Parsons Co. (NYSE:PSN) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its position in shares of Parsons Co. (NYSE:PSN – Get Rating) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,244 shares of the company’s stock after selling 4,554 shares during the period. Envestnet Asset Management Inc. owned about 0.05% of Parsons worth $2,601,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new stake in shares of Parsons during the 3rd quarter worth $25,000. Group One Trading L.P. bought a new position in shares of Parsons in the first quarter worth about $27,000. Altshuler Shaham Ltd bought a new position in shares of Parsons in the third quarter worth about $32,000. Sargent Bickham Lagudis LLC bought a new position in Parsons during the fourth quarter valued at about $32,000. Finally, Rockefeller Capital Management L.P. increased its stake in Parsons by 64.7% during the third quarter. Rockefeller Capital Management L.P. now owns 1,265 shares of the company’s stock valued at $49,000 after acquiring an additional 497 shares during the period. Institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PSN shares. Morgan Stanley dropped their price objective on shares of Parsons from $40.00 to $39.00 and set an “underweight” rating for the company in a research report on Thursday, February 16th. Benchmark reissued a “buy” rating and issued a $51.00 price target on shares of Parsons in a report on Monday, April 10th. Robert W. Baird raised their target price on shares of Parsons from $50.00 to $53.00 in a report on Thursday, May 4th. Finally, William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Monday, March 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $49.50.

Parsons Trading Up 0.9 %

PSN opened at $45.45 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.58 and a quick ratio of 1.58. Parsons Co. has a fifty-two week low of $35.52 and a fifty-two week high of $50.15. The firm has a market capitalization of $4.77 billion, a PE ratio of 49.40, a P/E/G ratio of 2.15 and a beta of 0.83. The company’s 50-day moving average is $44.28 and its 200 day moving average is $45.40.

Parsons (NYSE:PSN – Get Rating) last released its quarterly earnings data on Wednesday, February 15th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). Parsons had a return on equity of 8.38% and a net margin of 2.30%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. As a group, research analysts predict that Parsons Co. will post 1.89 earnings per share for the current fiscal year.

Parsons Company Profile

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Parsons Corp. engages in the provision of engineering, design, planning, and construction management services. It offers solutions for commercial, federal, transportation, and water resources. It delivers engineering, construction, systems and resource integration, project and program management, and environmental services to customers.