Parsons (NYSE:PSN) Director George Ball Purchases 20,000 Shares of Stock

Key Points

• Parsons director George Ball bought 20,000 shares at an average price of $47.97, investing approximately $959,400 and increasing his ownership by 13.3% to 170,383 shares.
• Parsons reported a quarterly loss of $0.06 per share, missing the $0.76 consensus estimate, while revenue declined 0.5% year over year to $1.59 billion.
• Analyst sentiment remains mixed but leans positive: the stock carries a “Moderate Buy” consensus rating and a $64.33 average price target, versus a recent trading price of $46.10.

Parsons Corporation (NYSE:PSN - Get Free Report) Director George Ball purchased 20,000 shares of the stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $47.97 per share, for a total transaction of $959,400.00. Following the acquisition, the director owned 170,383 shares in the company, valued at approximately $8,173,272.51. This represents a 13.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Parsons Price Performance

Shares of PSN traded down $1.45 during trading hours on Monday, reaching $46.10. 1,198,704 shares of the company's stock traded hands, compared to its average volume of 1,355,328. Parsons Corporation has a 12 month low of $36.26 and a 12 month high of $89.50. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.54. The stock has a market cap of $4.92 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 3.60 and a beta of 0.68. The firm's 50 day simple moving average is $54.18 and its 200-day simple moving average is $57.19.

Parsons (NYSE:PSN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.82). Parsons had a return on equity of 8.10% and a net margin of 2.50%.The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the company posted $0.78 earnings per share. The firm's revenue for the quarter was down .5% on a year-over-year basis. Equities analysts expect that Parsons Corporation will post 2.29 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PSN. Danske Bank A S bought a new stake in shares of Parsons in the 2nd quarter worth approximately $58,000. Citizens Financial Group Inc. RI purchased a new position in Parsons in the 2nd quarter worth $1,478,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Parsons in the 2nd quarter worth $9,053,000. State of Wyoming bought a new stake in Parsons in the second quarter worth $64,000. Finally, GSA Capital Partners LLP bought a new stake in Parsons in the second quarter worth $292,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSN. William Blair restated an "outperform" rating on shares of Parsons in a research report on Wednesday, July 29th. Zacks Research lowered shares of Parsons from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 5th. Robert W. Baird reissued a "neutral" rating and issued a $60.00 target price on shares of Parsons in a research note on Monday, April 13th. Weiss Ratings downgraded Parsons from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, July 30th. Finally, Truist Financial reaffirmed a "buy" rating and set a $60.00 price target (down from $75.00) on shares of Parsons in a research note on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $64.33.

Parsons Company Profile

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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