Parsons Corporation $PSN Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its holdings in shares of Parsons Corporation (NYSE:PSN) by 13.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,980 shares of the company’s stock after selling 1,215 shares during the period. Janney Montgomery Scott LLC’s holdings in Parsons were worth $573,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in shares of Parsons by 1,803.4% during the 1st quarter. Fifth Third Bancorp now owns 552 shares of the company’s stock worth $33,000 after purchasing an additional 523 shares during the last quarter. Banque Transatlantique SA acquired a new position in shares of Parsons in the 1st quarter valued at about $34,000. Signaturefd LLC lifted its stake in shares of Parsons by 63.1% in the 1st quarter. Signaturefd LLC now owns 610 shares of the company’s stock valued at $36,000 after purchasing an additional 236 shares in the last quarter. NewEdge Advisors LLC lifted its stake 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 purchasing an additional 264 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Parsons by 229.5% in the first quarter. GAMMA Investing LLC now owns 1,038 shares of the company’s stock valued at $61,000 after buying an additional 723 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Price Performance

PSN stock opened at $83.16 on Friday. 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 one year low of $54.56 and a one year high of $114.68. The firm has a market capitalization of $8.88 billion, a PE ratio of 37.13, a P/E/G ratio of 4.42 and a beta of 0.64. The firm has a 50-day moving average of $80.86 and a two-hundred day moving average of $72.85.

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

Analyst Upgrades and Downgrades

PSN has been the topic of several recent analyst reports. Jefferies Financial Group boosted their price target on Parsons from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, July 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. Baird R W upgraded Parsons from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Stifel Nicolaus began coverage on shares of Parsons in a research note on Tuesday, June 24th. They issued a “buy” rating and a $81.00 price target on the stock. Finally, Robert W. Baird raised their price target on shares of Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.80.

Parsons Company 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.