Strs Ohio Invests $1.26 Million in Parsons Corporation $PSN

Strs Ohio purchased a new stake in shares of Parsons Corporation (NYSE:PSN) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,198 shares of the company’s stock, valued at approximately $1,255,000.

Several other hedge funds have also modified their holdings of PSN. Versant Capital Management Inc bought a new position in Parsons in the first quarter valued at approximately $27,000. UMB Bank n.a. boosted its stake in Parsons by 238.7% in the first quarter. UMB Bank n.a. now owns 552 shares of the company’s stock valued at $33,000 after acquiring an additional 389 shares during the last quarter. Fifth Third Bancorp boosted its stake in Parsons by 1,803.4% in the first quarter. Fifth Third Bancorp now owns 552 shares of the company’s stock valued at $33,000 after acquiring an additional 523 shares during the last quarter. Signaturefd LLC boosted its stake in Parsons by 63.1% in the first quarter. Signaturefd LLC now owns 610 shares of the company’s stock valued at $36,000 after acquiring an additional 236 shares during the last quarter. Finally, Banque Transatlantique SA bought a new position in Parsons in the first quarter valued at approximately $34,000. 98.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PSN shares. The Goldman Sachs Group reduced their price objective on shares of Parsons from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, June 4th. Raymond James Financial raised shares of Parsons from a “market perform” rating to a “strong-buy” rating and set a $90.00 price objective on the stock in a research note on Tuesday, July 8th. Robert W. Baird increased their target price on shares of Parsons from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday. Truist Financial increased their target price on shares of Parsons from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group increased their target price on shares of Parsons from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Parsons currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Parsons Stock Up 9.7%

Shares of PSN stock opened at $82.76 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.47. Parsons Corporation has a 1 year low of $54.56 and a 1 year high of $114.68. The firm’s fifty day moving average price is $77.10 and its two-hundred day moving average price is $69.19. The firm has a market capitalization of $8.84 billion, a P/E ratio of 36.95, a PEG ratio of 3.98 and a beta of 0.63.

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