Mackenzie Financial Corp Has $85.59 Million Holdings in Parsons Corporation $PSN

Mackenzie Financial Corp lessened its position in Parsons Corporation (NYSE:PSN) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,032,184 shares of the company’s stock after selling 54,175 shares during the quarter. Mackenzie Financial Corp’s holdings in Parsons were worth $85,589,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC grew its position in shares of Parsons by 8.9% in the third quarter. Quadrant Capital Group LLC now owns 8,091 shares of the company’s stock valued at $671,000 after purchasing an additional 664 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Parsons by 0.6% during the 3rd quarter. Legal & General Group Plc now owns 298,026 shares of the company’s stock worth $24,712,000 after purchasing an additional 1,846 shares during the last quarter. Swiss National Bank lifted its position in shares of Parsons by 12.9% during the 3rd quarter. Swiss National Bank now owns 103,600 shares of the company’s stock worth $8,591,000 after purchasing an additional 11,800 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Parsons during the 3rd quarter valued at approximately $2,042,000. Finally, Diversify Advisory Services LLC bought a new stake in Parsons during the 3rd quarter valued at approximately $217,000. 98.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America dropped their price target on Parsons from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, December 30th. Barclays increased their price objective on Parsons from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Stifel Nicolaus lowered their price objective on shares of Parsons from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, December 23rd. Robert W. Baird dropped their target price on shares of Parsons from $100.00 to $82.00 and set an “outperform” rating on the stock in a research report on Monday, December 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Parsons in a research note on Monday, December 29th. Eleven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Parsons currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.42.

Parsons Trading Down 0.8%

Parsons stock opened at $58.85 on Thursday. The business has a 50 day moving average price of $67.12 and a two-hundred day moving average price of $74.44. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.45. Parsons Corporation has a 12 month low of $56.27 and a 12 month high of $89.50. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 1.85 and a beta of 0.68.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.68 billion. Parsons had a return on equity of 11.81% and a net margin of 3.79%.Parsons’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. As a group, equities analysts forecast that Parsons Corporation will post 3.58 EPS for the current year.

Parsons 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.