William Blair Investment Management LLC Has $135.59 Million Stake in Parsons Corporation $PSN

Key Points

• William Blair Investment Management LLC significantly increased its stake in Parsons Corporation by 72.5% during the second quarter, now owning approximately 1.77% of the company, worth $135.59 million.
• Multiple hedge funds have adjusted their positions in Parsons, with Vanguard Group increasing its stake by 8.2% and Groupama Asset Management entering with a new stake valued at $136.18 million.
• Parsons Corporation's stock has received positive ratings from analysts, including a "strong-buy" upgrade from Raymond James and a consensus rating of "Moderate Buy", with an average price target of $90.80.

William Blair Investment Management LLC raised its stake in Parsons Corporation (NYSE:PSN - Free Report) by 72.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,889,281 shares of the company's stock after acquiring an additional 793,807 shares during the quarter. William Blair Investment Management LLC owned approximately 1.77% of Parsons worth $135,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Parsons by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company's stock worth $293,226,000 after purchasing an additional 376,764 shares in the last quarter. Groupama Asset Managment bought a new stake in shares of Parsons during the first quarter worth $136,183,000. Mackenzie Financial Corp increased its holdings in shares of Parsons by 53.8% during the first quarter. Mackenzie Financial Corp now owns 1,084,288 shares of the company's stock worth $64,201,000 after buying an additional 379,254 shares in the last quarter. Channing Capital Management LLC lifted its stake in shares of Parsons by 42.9% in the 1st quarter. Channing Capital Management LLC now owns 1,062,180 shares of the company's stock valued at $62,892,000 after acquiring an additional 319,133 shares during the last quarter. Finally, SW Investment Management LLC boosted its holdings in shares of Parsons by 13.0% during the 2nd quarter. SW Investment Management LLC now owns 565,000 shares of the company's stock valued at $40,550,000 after acquiring an additional 65,000 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PSN has been the subject of a number of recent research reports. Stifel Nicolaus initiated coverage on Parsons in a report on Tuesday, June 24th. They issued a "buy" rating and a $81.00 target price for the company. 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. KeyCorp raised their price objective on shares of Parsons from $84.00 to $87.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Baird R W upgraded shares of Parsons from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Finally, Truist Financial upped their price target on shares of Parsons from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $90.80.

Parsons Price Performance

Parsons stock opened at $82.82 on Friday. The stock's 50 day moving average is $80.97 and its 200 day moving average is $73.01. Parsons Corporation has a one year low of $54.56 and a one year high of $114.68. The firm has a market cap of $8.84 billion, a P/E ratio of 36.97, a P/E/G ratio of 4.37 and a beta of 0.64. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.61 and a quick ratio of 1.61.

Parsons (NYSE:PSN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. The company's revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, research analysts expect that Parsons Corporation will post 3.58 EPS for the current 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.

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