Segall Bryant & Hamill LLC Makes New Investment in Parsons Corporation $PSN

Segall Bryant & Hamill LLC purchased a new position in shares of Parsons Corporation (NYSE:PSN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 100,918 shares of the company’s stock, valued at approximately $7,243,000. Segall Bryant & Hamill LLC owned approximately 0.09% of Parsons as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSN. Vanguard Group Inc. boosted its holdings in Parsons by 8.2% during the first quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company’s stock worth $293,226,000 after purchasing an additional 376,764 shares during the last quarter. Groupama Asset Managment acquired a new position in shares of Parsons during the 1st quarter worth about $136,183,000. Artisan Partners Limited Partnership grew its holdings in shares of Parsons by 15.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,114,579 shares of the company’s stock valued at $151,763,000 after acquiring an additional 279,244 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Parsons by 72.5% in the second quarter. William Blair Investment Management LLC now owns 1,889,281 shares of the company’s stock valued at $135,594,000 after acquiring an additional 793,807 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Parsons by 53.8% during the first quarter. Mackenzie Financial Corp now owns 1,084,288 shares of the company’s stock worth $64,201,000 after acquiring an additional 379,254 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Stock Down 0.3%

PSN opened at $81.78 on Monday. The stock’s fifty day simple moving average is $83.45 and its 200 day simple moving average is $76.68. Parsons Corporation has a 1-year low of $54.56 and a 1-year high of $101.92. The stock has a market cap of $8.71 billion, a PE ratio of 37.52, a price-to-earnings-growth ratio of 4.22 and a beta of 0.62. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.46.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.74 by $0.12. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.67 billion. Parsons had a net margin of 3.69% and a return on equity of 11.98%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. Parsons has set its FY 2025 guidance at EPS. As a group, research analysts expect that Parsons Corporation will post 3.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PSN has been the subject of a number of analyst reports. Zacks Research upgraded Parsons from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a research note on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Parsons in a report on Wednesday, October 8th. UBS Group assumed coverage on shares of Parsons in a research note on Wednesday. They issued a “buy” rating and a $107.00 price target for the company. Finally, Truist Financial lifted their price objective on shares of Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Parsons presently has an average rating of “Moderate Buy” and an average target price of $92.82.

Parsons Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.