Parsons Corporation $PSN Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its position in Parsons Corporation (NYSE:PSN) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 135,208 shares of the company’s stock after acquiring an additional 9,395 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of Parsons worth $11,211,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. NewEdge Advisors LLC lifted its position in shares of Parsons by 38.0% during the 1st quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after purchasing an additional 264 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Parsons by 433.9% in the first quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock valued at $75,000 after buying an additional 1,024 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Parsons during the 2nd quarter worth about $228,000. Vanguard Personalized Indexing Management LLC boosted its position in shares of Parsons by 43.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,878 shares of the company’s stock worth $422,000 after acquiring an additional 1,772 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Parsons by 31.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 28,163 shares of the company’s stock valued at $2,021,000 after acquiring an additional 6,736 shares during the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Stock Up 3.5%

PSN stock opened at $65.95 on Friday. The company has a fifty day moving average price of $66.41 and a 200 day moving average price of $75.82. Parsons Corporation has a 12 month low of $54.56 and a 12 month high of $89.50. The company has a market cap of $6.98 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 3.70 and a beta of 0.66. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.75 and a quick ratio of 1.75.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.06). Parsons had a net margin of 3.79% and a return on equity of 11.81%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. Sell-side analysts expect that Parsons Corporation will post 3.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PSN shares. TD Cowen upgraded Parsons from a “hold” rating to a “buy” rating and decreased their target price for the stock from $90.00 to $75.00 in a research note on Wednesday, December 10th. Weiss Ratings restated a “hold (c)” rating on shares of Parsons in a research report on Monday, December 29th. Raymond James Financial cut shares of Parsons from a “strong-buy” rating to a “market perform” rating in a report on Friday, December 5th. Jefferies Financial Group reiterated a “hold” rating on shares of Parsons in a research note on Thursday, January 15th. Finally, Citigroup boosted their price target on shares of Parsons from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Parsons presently has an average rating of “Moderate Buy” and a consensus price target of $83.92.

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.