Louisiana State Employees Retirement System Makes New $829,000 Investment in Parsons Corporation $PSN

Louisiana State Employees Retirement System acquired a new stake in Parsons Corporation (NYSE:PSN) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 15,300 shares of the company’s stock, valued at approximately $829,000.

A number of other institutional investors have also made changes to their positions in PSN. Public Employees Retirement System of Ohio increased its stake in Parsons by 0.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,029 shares of the company’s stock valued at $1,412,000 after buying an additional 144 shares during the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Parsons by 0.4% during the 4th quarter. Kennedy Capital Management LLC now owns 47,680 shares of the company’s stock worth $2,947,000 after buying an additional 194 shares during the last quarter. CI Investments Inc. grew its holdings in shares of Parsons by 32.5% in the 3rd quarter. CI Investments Inc. now owns 852 shares of the company’s stock valued at $71,000 after acquiring an additional 209 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Parsons by 38.0% in the 1st quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock valued at $57,000 after acquiring an additional 264 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Parsons by 39.5% in the third quarter. IFP Advisors Inc now owns 1,032 shares of the company’s stock valued at $91,000 after acquiring an additional 292 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Insiders Place Their Bets

In other Parsons news, Director Mark Keith Holdsworth bought 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average price of $51.27 per share, for a total transaction of $512,700.00. Following the transaction, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carey A. Smith purchased 12,500 shares of Parsons stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of $49.97 per share, for a total transaction of $624,625.00. Following the transaction, the chief executive officer directly owned 575,376 shares of the company’s stock, valued at $28,751,538.72. This represents a 2.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 32,500 shares of company stock worth $1,637,325 in the last quarter. Corporate insiders own 1.31% of the company’s stock.

Parsons Stock Performance

NYSE PSN opened at $56.20 on Monday. The firm has a 50-day moving average of $53.65 and a 200-day moving average of $59.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market cap of $6.01 billion, a PE ratio of 26.89, a P/E/G ratio of 1.77 and a beta of 0.66. Parsons Corporation has a 52-week low of $46.88 and a 52-week high of $89.50.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, April 29th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.70 by $0.09. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. Parsons had a return on equity of 11.52% and a net margin of 3.62%.The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, sell-side analysts anticipate that Parsons Corporation will post 2.97 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PSN. Barclays dropped their target price on Parsons from $78.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Truist Financial lowered their price target on Parsons from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Jefferies Financial Group reiterated a “hold” rating on shares of Parsons in a research note on Sunday, May 3rd. KeyCorp downgraded Parsons from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 14th. Finally, Citigroup raised their target price on shares of Parsons from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

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.