Hsbc Holdings PLC Buys Shares of 29,847 Parsons Corporation $PSN

Hsbc Holdings PLC bought a new position in shares of Parsons Corporation (NYSE:PSN) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 29,847 shares of the company’s stock, valued at approximately $1,853,000.

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

Parsons Stock Performance

NYSE:PSN opened at $51.32 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $5.49 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 1.61 and a beta of 0.64. The firm has a 50-day moving average price of $53.67 and a two-hundred day moving average price of $59.54. Parsons Corporation has a twelve month low of $46.88 and a twelve month high of $89.50.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.09. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. Parsons had a net margin of 3.62% and a return on equity of 11.52%. The company’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 earnings per share. As a group, research analysts expect that Parsons Corporation will post 2.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director George L. Ball acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $50.00 per share, for a total transaction of $500,000.00. Following the transaction, the director directly owned 150,383 shares of the company’s stock, valued at approximately $7,519,150. This trade represents a 7.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Carey A. Smith bought 12,500 shares of Parsons stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average cost of $49.97 per share, for a total transaction of $624,625.00. Following the purchase, the chief executive officer owned 575,376 shares in the company, valued at $28,751,538.72. This represents a 2.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 32,500 shares of company stock worth $1,637,325 in the last ninety days. Insiders own 1.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup dropped their target price on shares of Parsons from $70.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Zacks Research raised Parsons from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Barclays lowered their price target on Parsons from $78.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Truist Financial dropped their price objective on Parsons from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Parsons in a research note on Sunday, May 3rd. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Parsons has a consensus rating of “Moderate Buy” and a consensus target price of $76.92.

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.