Parsons Corporation $PSN is SW Investment Management LLC's 5th Largest Position

Key Points

• SW Investment Management LLC increased its stake in Parsons Corporation by 38.9%, now owning 500,000 shares worth approximately $29.61 million.
• Several hedge funds have recently modified their holdings in Parsons, with institutional investors now owning 98.02% of the company's stock.
• Analysts have a consensus "Buy" rating on Parsons, with the average price target set at $88.70, reflecting optimism about the company's financial performance.

SW Investment Management LLC raised its holdings in shares of Parsons Corporation (NYSE:PSN - Free Report) by 38.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 500,000 shares of the company's stock after purchasing an additional 140,000 shares during the quarter. Parsons makes up 9.1% of SW Investment Management LLC's holdings, making the stock its 5th biggest position. SW Investment Management LLC owned about 0.47% of Parsons worth $29,605,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Parsons during the fourth quarter worth $30,000. Versant Capital Management Inc acquired a new stake in shares of Parsons during the first quarter worth $27,000. UMB Bank n.a. lifted its holdings in shares of Parsons by 238.7% during the first quarter. UMB Bank n.a. now owns 552 shares of the company's stock worth $33,000 after buying an additional 389 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Parsons by 1,803.4% during the first quarter. Fifth Third Bancorp now owns 552 shares of the company's stock worth $33,000 after buying an additional 523 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Parsons by 63.1% during the first quarter. Signaturefd LLC now owns 610 shares of the company's stock worth $36,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PSN. Robert W. Baird upgraded Parsons from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $78.00 to $92.00 in a research report on Thursday, August 7th. Zacks Research upgraded Parsons from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Raymond James Financial upgraded Parsons from a "market perform" rating to a "strong-buy" rating and set a $90.00 price target on the stock in a report on Tuesday, July 8th. Truist Financial lifted their price objective on Parsons from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, KeyCorp reissued an "overweight" rating and issued a $84.00 price target (up from $82.00) on shares of Parsons in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.70.

Parsons Price Performance

PSN traded down $0.5010 during trading on Wednesday, reaching $78.1590. 384,928 shares of the company were exchanged, compared to its average volume of 1,395,521. The company has a market cap of $8.35 billion, a price-to-earnings ratio of 34.93, a P/E/G ratio of 4.19 and a beta of 0.58. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.47. The company's 50-day moving average is $74.11 and its two-hundred day moving average is $67.97. Parsons Corporation has a 12-month low of $54.56 and a 12-month high of $114.68.

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

Parsons Company 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.