Louisiana State Employees Retirement System Makes New $829,000 Investment in Parsons Corporation $PSN

Louisiana State Employees Retirement System acquired a new stake in Parsons Corporation (NYSE:PSN) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 15,300 shares of the company’s stock, valued at approximately $829,000.

Other institutional investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Parsons during the fourth quarter worth approximately $25,000. Danske Bank A S bought a new stake in Parsons during the fourth quarter worth $31,000. Los Angeles Capital Management LLC purchased a new stake in Parsons in the 4th quarter valued at $32,000. ST Germain D J Co. Inc. purchased a new stake in Parsons in the 4th quarter valued at $41,000. Finally, Farther Finance Advisors LLC lifted its stake in Parsons by 613.2% during the 4th quarter. Farther Finance Advisors LLC now owns 756 shares of the company’s stock valued at $47,000 after acquiring an additional 650 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Parsons

In other Parsons news, Director George L. Ball acquired 10,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average cost of $50.00 per share, with a total value of $500,000.00. Following the completion of the acquisition, the director directly owned 150,383 shares in the company, valued at $7,519,150. This trade represents a 7.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carey A. Smith bought 12,500 shares of the business’s stock in a transaction on Friday, May 8th. The shares were acquired at an average price of $49.97 per share, with a total value of $624,625.00. Following the transaction, the chief executive officer directly owned 575,376 shares of the company’s stock, valued at approximately $28,751,538.72. This trade represents a 2.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 32,500 shares of company stock worth $1,637,325. Company insiders own 1.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PSN. Barclays reduced their target price on shares of Parsons from $78.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Truist Financial cut their price target on shares of Parsons from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Robert W. Baird reiterated a “neutral” rating and issued a $60.00 price objective on shares of Parsons in a research note on Monday, April 13th. BNP Paribas Exane set a $65.00 target price on Parsons and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings lowered Parsons from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Parsons presently has an average rating of “Moderate Buy” and an average target price of $77.00.

Parsons Trading Down 0.2%

Shares of PSN stock opened at $56.20 on Monday. The firm has a market cap of $6.01 billion, a P/E ratio of 26.89, a PEG ratio of 1.77 and a beta of 0.66. The company has a 50 day moving average of $53.65 and a 200-day moving average of $59.26. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.55. Parsons Corporation has a 12-month low of $46.88 and a 12-month high of $89.50.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Parsons had a return on equity of 11.52% and a net margin of 3.62%.The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. Sell-side analysts anticipate that Parsons Corporation will post 2.97 earnings per share for the current year.

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.