Parsons Corporation $PSN Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its stake in Parsons by 1.9%, selling 98,943 shares and leaving it with 4,978,367 shares (4.67%) worth about $307.7 million, while institutional investors own about 98.02% of the stock.
• Analyst sentiment is cautiously positive with an average rating of "Moderate Buy" (nine Buys, six Holds) and an average target of $78.17, although some firms have lowered targets recently (UBS to $95, Citi to $65).
• Parsons beat Q1 EPS estimates ($0.79 vs. $0.70) but reported revenue of $1.49B that missed expectations and was down 4.1% year‑over‑year; the stock trades near $51 (12‑month range: $49.28–$89.50).

Vanguard Group Inc. trimmed its holdings in Parsons Corporation (NYSE:PSN - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,978,367 shares of the company's stock after selling 98,943 shares during the period. Vanguard Group Inc. owned 4.67% of Parsons worth $307,663,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PSN. AQR Capital Management LLC boosted its stake in Parsons by 151.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company's stock worth $75,173,000 after buying an additional 639,481 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Parsons in the 3rd quarter worth about $38,880,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Parsons by 44.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,032,760 shares of the company's stock valued at $85,636,000 after purchasing an additional 318,841 shares in the last quarter. Kettle Hill Capital Management LLC lifted its stake in shares of Parsons by 295.9% in the 3rd quarter. Kettle Hill Capital Management LLC now owns 373,180 shares of the company's stock valued at $30,944,000 after purchasing an additional 278,919 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Parsons by 10.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,331,921 shares of the company's stock valued at $193,363,000 after purchasing an additional 217,342 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSN. UBS Group reduced their price objective on Parsons from $104.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Jefferies Financial Group reiterated a "hold" rating on shares of Parsons in a report on Sunday. Weiss Ratings reiterated a "hold (c)" rating on shares of Parsons in a report on Friday, March 27th. Citigroup dropped their price objective on Parsons from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Finally, Zacks Research upgraded Parsons from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.17.

Parsons Price Performance

Shares of NYSE PSN opened at $51.26 on Friday. Parsons Corporation has a twelve month low of $49.28 and a twelve month high of $89.50. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 1.64 and a beta of 0.60. The business has a 50 day simple moving average of $56.09 and a 200-day simple moving average of $66.81.

Parsons (NYSE:PSN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.09. Parsons had a return on equity of 11.52% and a net margin of 3.62%.The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm's quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts expect that Parsons Corporation will post 2.94 earnings per share for the current year.

About Parsons

Parsons Corporation NYSE: PSN is a technology-driven engineering, construction, technical and professional services firm. The company delivers end-to-end solutions that span feasibility studies, design and engineering, construction management, system integration and ongoing operations support. Parsons serves both government and commercial clients and focuses on critical infrastructure, defense, security, intelligence and environmental programs.

Core services include program and construction management for transportation systems, water and environmental infrastructure, cybersecurity and advanced systems integration.

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