Parsons (NYSE:PSN) Director Mark Keith Holdsworth Acquires 10,000 Shares of Stock

Parsons Corporation (NYSE:PSN) Director Mark Keith Holdsworth purchased 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $51.27 per share, for a total transaction of $512,700.00. Following the acquisition, the director directly owned 39,918 shares of the company’s stock, valued at $2,046,595.86. This represents a 33.42% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Parsons Stock Performance

Shares of PSN stock opened at $50.42 on Thursday. Parsons Corporation has a 1-year low of $48.23 and a 1-year high of $89.50. 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 $5.39 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 1.68 and a beta of 0.60. The stock’s fifty day simple moving average is $54.81 and its 200-day simple moving average is $65.85.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. Parsons had a return on equity of 11.52% and a net margin of 3.62%.The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. Parsons’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, sell-side analysts predict that Parsons Corporation will post 2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parsons

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its position in shares of Parsons by 0.9% in the third quarter. Public Employees Retirement System of Ohio now owns 17,029 shares of the company’s stock valued at $1,412,000 after purchasing an additional 144 shares during the last quarter. Kennedy Capital Management LLC increased its position in Parsons by 0.4% during the fourth quarter. Kennedy Capital Management LLC now owns 47,680 shares of the company’s stock worth $2,947,000 after acquiring an additional 194 shares during the period. CI Investments Inc. increased its position in Parsons by 32.5% during the third quarter. CI Investments Inc. now owns 852 shares of the company’s stock worth $71,000 after acquiring an additional 209 shares during the period. NewEdge Advisors LLC increased its position in Parsons by 38.0% during the first quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after acquiring an additional 264 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its position in Parsons by 4.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,156 shares of the company’s stock worth $510,000 after acquiring an additional 278 shares during the period. 98.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSN has been the topic of several research reports. Barclays dropped their price objective on shares of Parsons from $78.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Citigroup dropped their price objective on shares of Parsons from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Jefferies Financial Group reiterated a “hold” rating on shares of Parsons in a research note on Sunday, May 3rd. 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. Finally, Truist Financial dropped their price objective on shares of Parsons from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.17.

About Parsons

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.