Swedbank AB Acquires 913,079 Shares of Parsons Corporation $PSN

Swedbank AB boosted its holdings in Parsons Corporation (NYSE:PSN - Free Report) by 654.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,052,541 shares of the company's stock after acquiring an additional 913,079 shares during the quarter. Swedbank AB owned 0.99% of Parsons worth $65,047,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PSN. Mather Group LLC. bought a new position in Parsons in the 3rd quarter worth about $25,000. Danske Bank A S bought a new position in Parsons in the 4th quarter worth about $31,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Parsons in the 3rd quarter worth about $40,000. ST Germain D J Co. Inc. bought a new position in Parsons in the 4th quarter worth about $41,000. Finally, Farther Finance Advisors LLC increased its stake in Parsons by 613.2% in the 4th quarter. Farther Finance Advisors LLC now owns 756 shares of the company's stock worth $47,000 after acquiring an additional 650 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Price Performance

PSN opened at $51.77 on Thursday. The stock has a 50-day moving average price of $56.36 and a 200-day moving average price of $67.03. Parsons Corporation has a 12-month low of $49.28 and a 12-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 stock has a market capitalization of $5.54 billion, a P/E ratio of 24.77, a PEG ratio of 1.58 and a beta of 0.60.

Parsons (NYSE:PSN - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the business earned $0.60 EPS. The company's revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts predict that Parsons Corporation will post 2.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSN. Citigroup decreased their target price on Parsons from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. UBS Group decreased their target price on Parsons from $104.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Truist Financial decreased their target price on Parsons from $85.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Barclays decreased their target price on Parsons from $78.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 31st. Finally, Zacks Research upgraded Parsons from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $78.17.

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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