Allianz Asset Management GmbH Has $2.02 Million Holdings in Parsons Corporation $PSN

Allianz Asset Management GmbH raised its holdings in shares of Parsons Corporation (NYSE:PSN) by 31.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,163 shares of the company’s stock after acquiring an additional 6,736 shares during the quarter. Allianz Asset Management GmbH’s holdings in Parsons were worth $2,021,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PSN. TD Asset Management Inc lifted its position in Parsons by 83.3% in the 2nd quarter. TD Asset Management Inc now owns 64,516 shares of the company’s stock worth $4,630,000 after buying an additional 29,312 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Parsons by 12.2% in the second quarter. Sequoia Financial Advisors LLC now owns 5,731 shares of the company’s stock worth $411,000 after buying an additional 625 shares during the last quarter. SW Investment Management LLC lifted its stake in Parsons by 13.0% in the second quarter. SW Investment Management LLC now owns 565,000 shares of the company’s stock valued at $40,550,000 after acquiring an additional 65,000 shares during the last quarter. CWM LLC increased its stake in shares of Parsons by 288.6% during the 2nd quarter. CWM LLC now owns 30,350 shares of the company’s stock worth $2,178,000 after purchasing an additional 22,540 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Parsons by 43.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,878 shares of the company’s stock valued at $422,000 after purchasing an additional 1,772 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Stock Performance

PSN opened at $84.19 on Friday. Parsons Corporation has a 1 year low of $54.56 and a 1 year high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.61 and a quick ratio of 1.61. The business’s 50-day moving average price is $81.39 and its two-hundred day moving average price is $73.94. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 37.58, a P/E/G ratio of 4.42 and a beta of 0.64.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.78 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities analysts expect that Parsons Corporation will post 3.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PSN. Baird R W upgraded Parsons from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Truist Financial upped their price target on Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Parsons in a research note on Saturday. Zacks Research raised shares of Parsons from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, KeyCorp increased their target price on shares of Parsons from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.40.

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.