US Bancorp DE Has $112,000 Stock Position in Parsons Corporation $PSN

US Bancorp DE cut its stake in shares of Parsons Corporation (NYSE:PSN) by 72.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,889 shares of the company’s stock after selling 4,979 shares during the period. US Bancorp DE’s holdings in Parsons were worth $112,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc bought a new position in Parsons during the first quarter worth about $27,000. Quarry LP bought a new stake in Parsons during the fourth quarter worth about $30,000. UMB Bank n.a. raised its holdings in Parsons by 238.7% during the first quarter. UMB Bank n.a. now owns 552 shares of the company’s stock worth $33,000 after acquiring an additional 389 shares in the last quarter. Fifth Third Bancorp increased its position in Parsons by 1,803.4% during the first quarter. Fifth Third Bancorp now owns 552 shares of the company’s stock worth $33,000 after buying an additional 523 shares during the last quarter. Finally, Signaturefd LLC increased its position in Parsons by 63.1% during the first quarter. Signaturefd LLC now owns 610 shares of the company’s stock worth $36,000 after buying an additional 236 shares during the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSN has been the topic of several research reports. The Goldman Sachs Group decreased their target price on Parsons from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, June 4th. KeyCorp reaffirmed an “overweight” rating and issued a $84.00 target price (up previously from $82.00) on shares of Parsons in a report on Thursday, August 7th. Baird R W upgraded Parsons from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Jefferies Financial Group raised their target price on Parsons from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, July 2nd. Finally, Truist Financial raised their target price on Parsons from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $88.70.

Parsons Stock Performance

Shares of Parsons stock opened at $79.54 on Monday. Parsons Corporation has a one year low of $54.56 and a one year high of $114.68. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 4.19 and a beta of 0.58. The business has a 50-day simple moving average of $73.74 and a 200 day simple moving average of $67.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.61 and a quick ratio of 1.61.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Parsons had a return on equity of 12.36% and a net margin of 3.70%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. On average, research analysts anticipate that Parsons Corporation will post 3.58 earnings per share for the current fiscal year.

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.