Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 913 Shares of Parsons Corporation $PSN

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Parsons Corporation (NYSE:PSN) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,082 shares of the company’s stock after acquiring an additional 913 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Parsons were worth $867,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PSN. IFP Advisors Inc lifted its stake in Parsons by 207.7% in the 1st quarter. IFP Advisors Inc now owns 1,517 shares of the company’s stock valued at $90,000 after purchasing an additional 1,024 shares during the last quarter. TD Asset Management Inc raised its stake in Parsons by 8.2% in the first quarter. TD Asset Management Inc now owns 35,204 shares of the company’s stock valued at $2,084,000 after buying an additional 2,680 shares during the period. Mackenzie Financial Corp lifted its position in shares of Parsons by 53.8% in the first quarter. Mackenzie Financial Corp now owns 1,084,288 shares of the company’s stock valued at $64,201,000 after buying an additional 379,254 shares during the last quarter. Alberta Investment Management Corp boosted its stake in shares of Parsons by 325.0% during the 1st quarter. Alberta Investment Management Corp now owns 44,200 shares of the company’s stock worth $2,617,000 after acquiring an additional 33,800 shares during the period. Finally, Strategic Advocates LLC acquired a new position in shares of Parsons during the 1st quarter worth approximately $219,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on PSN shares. KeyCorp raised their price target on Parsons from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Baird R W raised shares of Parsons from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Zacks Research raised shares of Parsons from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Truist Financial increased their price target on shares of Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Finally, UBS Group assumed coverage on Parsons in a report on Wednesday. They set a “buy” rating and a $107.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.82.

Parsons Trading Down 0.3%

PSN stock opened at $81.78 on Monday. Parsons Corporation has a 52 week low of $54.56 and a 52 week high of $101.92. The company has a market capitalization of $8.71 billion, a PE ratio of 37.52, a price-to-earnings-growth ratio of 4.22 and a beta of 0.62. The company’s 50-day simple moving average is $83.45 and its 200 day simple moving average is $76.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.67 and a current ratio of 1.67.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.12. Parsons had a net margin of 3.69% and a return on equity of 11.98%. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. Parsons has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Parsons Corporation will post 3.58 earnings per share for the current year.

About Parsons

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.