Ameritas Investment Partners Inc. Has $830,000 Stake in Parsons Corporation $PSN

Ameritas Investment Partners Inc. reduced its position in Parsons Corporation (NYSE:PSN) by 99.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,009 shares of the company’s stock after selling 2,349,190 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Parsons were worth $830,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Channing Capital Management LLC grew its position in Parsons by 20.3% in the 2nd quarter. Channing Capital Management LLC now owns 1,277,286 shares of the company’s stock worth $91,671,000 after purchasing an additional 215,106 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of Parsons during the 2nd quarter worth approximately $11,153,000. Savvy Advisors Inc. acquired a new stake in Parsons in the 3rd quarter valued at $1,683,000. Retirement Systems of Alabama grew its position in Parsons by 63.3% in the third quarter. Retirement Systems of Alabama now owns 93,860 shares of the company’s stock valued at $7,783,000 after acquiring an additional 36,384 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in Parsons during the third quarter worth $1,369,000. Institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PSN shares. Citigroup increased their target price on shares of Parsons from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Raymond James Financial lowered shares of Parsons from a “strong-buy” rating to a “market perform” rating in a report on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Parsons in a report on Monday, December 29th. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a report on Thursday, November 20th. Finally, KeyCorp cut their price objective on Parsons from $80.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.42.

Parsons Stock Performance

PSN opened at $65.93 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.45. Parsons Corporation has a 12-month low of $54.56 and a 12-month high of $89.50. The business has a 50 day moving average of $66.88 and a 200-day moving average of $75.34. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.07 and a beta of 0.66.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.68 billion. Parsons had a net margin of 3.79% and a return on equity of 11.81%. Parsons’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. On average, equities research analysts expect that Parsons Corporation will post 3.58 earnings per share for the current year.

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.