Parsons Corporation $PSN Position Lessened by IFP Advisors Inc

IFP Advisors Inc lowered its holdings in shares of Parsons Corporation (NYSE:PSN) by 51.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 740 shares of the company’s stock after selling 777 shares during the period. IFP Advisors Inc’s holdings in Parsons were worth $58,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC grew its holdings in shares of Parsons by 63.1% in the 1st quarter. Signaturefd LLC now owns 610 shares of the company’s stock worth $36,000 after acquiring an additional 236 shares during the last quarter. Banque Transatlantique SA acquired a new stake in shares of Parsons in the first quarter worth $34,000. NewEdge Advisors LLC boosted its position in shares of Parsons by 38.0% in the first quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after buying an additional 264 shares during the period. GAMMA Investing LLC boosted its position in Parsons by 229.5% during the first quarter. GAMMA Investing LLC now owns 1,038 shares of the company’s stock valued at $61,000 after purchasing an additional 723 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Parsons by 433.9% during the first quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock valued at $75,000 after purchasing an additional 1,024 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Zacks Research raised Parsons from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Raymond James Financial upgraded Parsons from a “market perform” rating to a “strong-buy” rating and set a $90.00 price target on the stock in a research note on Tuesday, July 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. Robert W. Baird boosted their price target on Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Finally, Stifel Nicolaus initiated coverage on Parsons in a research note on Tuesday, June 24th. They set a “buy” rating and a $81.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.40.

Parsons Stock Performance

Shares of Parsons stock opened at $84.87 on Wednesday. The firm has a fifty day moving average of $81.20 and a two-hundred day moving average of $73.43. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 37.89, a PEG ratio of 4.46 and a beta of 0.64. Parsons Corporation has a 52 week low of $54.56 and a 52 week high of $114.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.61 and a current ratio of 1.61.

Parsons (NYSE:PSN) last released 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 business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, equities research analysts predict that Parsons Corporation will post 3.58 EPS for the current year.

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.