Parsons Corporation $PSN Holdings Lowered by Vanguard Group Inc.

Vanguard Group Inc. trimmed its stake in shares of Parsons Corporation (NYSE:PSN) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,978,367 shares of the company’s stock after selling 98,943 shares during the period. Vanguard Group Inc.’s holdings in Parsons were worth $307,663,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC raised its position in Parsons by 151.5% during the second quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after buying an additional 639,481 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Parsons during the 3rd quarter worth about $38,880,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Parsons by 44.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,032,760 shares of the company’s stock worth $85,636,000 after acquiring an additional 318,841 shares during the period. Kettle Hill Capital Management LLC boosted its position in Parsons by 295.9% during the 3rd quarter. Kettle Hill Capital Management LLC now owns 373,180 shares of the company’s stock worth $30,944,000 after acquiring an additional 278,919 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in Parsons by 10.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,331,921 shares of the company’s stock worth $193,363,000 after purchasing an additional 217,342 shares during the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Price Performance

Shares of NYSE:PSN opened at $51.26 on Friday. The business has a 50 day moving average price of $56.09 and a 200 day moving average price of $66.81. Parsons Corporation has a twelve month low of $49.28 and a twelve month high of $89.50. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 1.64 and a beta of 0.60. 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 (NYSE:PSN) last announced its earnings results on Wednesday, April 29th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.09. Parsons had a return on equity of 11.52% and a net margin of 3.62%.The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Research analysts predict that Parsons Corporation will post 2.94 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on PSN shares. Zacks Research raised Parsons from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Parsons in a research report on Sunday. Weiss Ratings reiterated a “hold (c)” rating on shares of Parsons in a research note on Friday, March 27th. Citigroup decreased their price target on Parsons from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $60.00 price target on shares of Parsons in a research note on Monday, April 13th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.17.

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.