Mackenzie Financial Corp Decreases Holdings in Parsons Co. (NYSE:PSN)

Mackenzie Financial Corp reduced its holdings in shares of Parsons Co. (NYSE:PSN - Free Report) by 29.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,752,946 shares of the company's stock after selling 739,929 shares during the quarter. Mackenzie Financial Corp owned 1.67% of Parsons worth $109,927,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Arizona State Retirement System boosted its stake in Parsons by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 11,942 shares of the company's stock valued at $649,000 after purchasing an additional 178 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Parsons by 1.8% in the first quarter. Guggenheim Capital LLC now owns 15,193 shares of the company's stock valued at $588,000 after purchasing an additional 269 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Parsons by 60.6% during the third quarter. Tower Research Capital LLC TRC now owns 782 shares of the company's stock valued at $43,000 after buying an additional 295 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Parsons by 7.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 4,733 shares of the company's stock worth $297,000 after buying an additional 327 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Parsons by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 60,477 shares of the company's stock worth $2,707,000 after buying an additional 327 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on PSN shares. Benchmark reaffirmed a "buy" rating and set a $68.00 price objective on shares of Parsons in a report on Thursday, April 4th. KeyCorp upped their price objective on shares of Parsons from $74.00 to $79.00 and gave the stock an "overweight" rating in a research report on Thursday, February 15th. Robert W. Baird lifted their target price on shares of Parsons from $75.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, February 15th. The Goldman Sachs Group upped their target price on Parsons from $73.00 to $81.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Truist Financial lifted their price target on Parsons from $84.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Parsons presently has an average rating of "Moderate Buy" and a consensus target price of $77.78.

Parsons Stock Performance

Shares of PSN traded up $0.03 during mid-day trading on Tuesday, hitting $78.94. The stock had a trading volume of 634,134 shares, compared to its average volume of 915,883. Parsons Co. has a 52 week low of $42.22 and a 52 week high of $85.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.52. The business has a fifty day moving average price of $79.08 and a 200-day moving average price of $67.77. The firm has a market cap of $8.35 billion, a P/E ratio of 55.49, a PEG ratio of 3.60 and a beta of 0.85.

Parsons (NYSE:PSN - Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.56 by $0.13. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.33 billion. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The company's revenue was up 36.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, equities research analysts expect that Parsons Co. will post 2.55 EPS for the current 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.