Royce & Associates LP Makes New $5.01 Million Investment in Parsons Corporation $PSN

Royce & Associates LP bought a new position in Parsons Corporation (NYSE:PSN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 81,000 shares of the company’s stock, valued at approximately $5,006,000.

Several other hedge funds also recently made changes to their positions in the company. Rooted Wealth Advisors Inc. purchased a new position in shares of Parsons in the fourth quarter worth $873,000. New Age Alpha Advisors LLC increased its stake in shares of Parsons by 106.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 4,661 shares of the company’s stock worth $288,000 after buying an additional 2,402 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Parsons by 2,197.4% in the fourth quarter. Hantz Financial Services Inc. now owns 3,469 shares of the company’s stock worth $214,000 after buying an additional 3,318 shares during the period. Swedbank AB increased its stake in shares of Parsons by 654.7% in the fourth quarter. Swedbank AB now owns 1,052,541 shares of the company’s stock worth $65,047,000 after buying an additional 913,079 shares during the period. Finally, Bastion Asset Management Inc. purchased a new position in shares of Parsons in the fourth quarter worth $8,044,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parsons

In related news, Director George L. Ball acquired 10,000 shares of Parsons 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 transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Keith Holdsworth acquired 10,000 shares of Parsons stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $51.27 per share, for a total transaction of $512,700.00. Following the completion of the transaction, the director owned 39,918 shares in the company, valued at approximately $2,046,595.86. This trade represents a 33.42% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 32,500 shares of company stock valued at $1,637,325. 1.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on PSN shares. Citigroup decreased their target price 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. Barclays decreased their target price 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. BNP Paribas Exane set a $65.00 target price on shares of Parsons and gave the stock an “outperform” rating in a research note on Wednesday. Zacks Research raised shares of Parsons from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Parsons in a research note on Sunday, May 3rd. Ten 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.15.

Parsons Stock Up 0.4%

Shares of Parsons stock opened at $59.08 on Friday. 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’s fifty day simple moving average is $53.46 and its two-hundred day simple moving average is $63.54. The company has a market cap of $6.32 billion, a P/E ratio of 28.27, a PEG ratio of 1.87 and a beta of 0.60. Parsons Corporation has a 12-month low of $48.23 and a 12-month high of $89.50.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. The business 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 quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. Research analysts anticipate that Parsons Corporation will post 2.94 EPS for the current year.

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.