Quantbot Technologies LP Sells 61,914 Shares of Parsons Corporation $PSN

Key Points

• Quantbot Technologies LP significantly reduced its stake in Parsons Corporation by 96.1%, now holding 2,521 shares worth $149,000 after selling 61,914 shares in the 1st quarter.
• Several hedge funds have increased their positions in Parsons, with Freestone Grove Partners acquiring a stake valued at $40.3 million and Mackenzie Financial Corp boosting its holdings by 53.8%.
• Parsons Corporation's stock received positive ratings from analysts, with Robert W. Baird upgrading it to "outperform" and increasing the target price from $78.00 to $92.00.

Quantbot Technologies LP reduced its position in shares of Parsons Corporation (NYSE:PSN - Free Report) by 96.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,521 shares of the company's stock after selling 61,914 shares during the period. Quantbot Technologies LP's holdings in Parsons were worth $149,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ProShare Advisors LLC increased its stake in Parsons by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 2,185 shares of the company's stock valued at $202,000 after buying an additional 149 shares during the last quarter. CWM LLC boosted its holdings in shares of Parsons by 2.1% during the 1st quarter. CWM LLC now owns 7,810 shares of the company's stock worth $462,000 after buying an additional 163 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Parsons by 1.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 17,205 shares of the company's stock valued at $1,587,000 after purchasing an additional 194 shares during the period. New York State Teachers Retirement System boosted its holdings in Parsons by 1.8% in the 1st quarter. New York State Teachers Retirement System now owns 11,317 shares of the company's stock valued at $670,000 after purchasing an additional 200 shares during the period. Finally, Roanoke Asset Management Corp NY boosted its holdings in Parsons by 0.5% in the 1st quarter. Roanoke Asset Management Corp NY now owns 38,935 shares of the company's stock valued at $2,305,000 after purchasing an additional 200 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PSN shares. Stifel Nicolaus started coverage on shares of Parsons in a research report on Tuesday, June 24th. They set a "buy" rating and a $81.00 price objective for the company. Zacks Research raised shares of Parsons from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Truist Financial increased their target price on shares of Parsons from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Baird R W raised shares of Parsons from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Finally, Raymond James Financial upgraded shares of Parsons from a "market perform" rating to a "strong-buy" rating and set a $90.00 price objective on the stock in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Parsons presently has an average rating of "Moderate Buy" and a consensus target price of $88.70.

Parsons Trading Up 0.6%

Shares of NYSE PSN traded up $0.50 during mid-day trading on Tuesday, hitting $80.60. The stock had a trading volume of 604,792 shares, compared to its average volume of 1,366,381. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.61 and a current ratio of 1.61. Parsons Corporation has a 1 year low of $54.56 and a 1 year high of $114.68. The business has a 50 day moving average price of $76.13 and a two-hundred day moving average price of $68.11. The firm has a market cap of $8.61 billion, a P/E ratio of 35.98, a price-to-earnings-growth ratio of 4.22 and a beta of 0.63.

Parsons (NYSE:PSN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. Parsons had a net margin of 3.70% and a return on equity of 12.36%. The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the business posted $0.84 earnings per share. The firm's revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Parsons Corporation will post 3.58 EPS for the current fiscal year.

Parsons Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.