Artisan Partners Limited Partnership Has $193.36 Million Position in Parsons Corporation $PSN

Artisan Partners Limited Partnership lifted its position in Parsons Corporation (NYSE:PSN) by 10.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,331,921 shares of the company’s stock after acquiring an additional 217,342 shares during the period. Artisan Partners Limited Partnership owned approximately 2.19% of Parsons worth $193,363,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PSN. Xponance Inc. raised its holdings in Parsons by 7.4% in the third quarter. Xponance Inc. now owns 6,055 shares of the company’s stock worth $502,000 after purchasing an additional 419 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Parsons by 15.1% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 43,743 shares of the company’s stock valued at $3,627,000 after buying an additional 5,725 shares in the last quarter. Primecap Management Co. CA raised its stake in Parsons by 25.8% during the 3rd quarter. Primecap Management Co. CA now owns 449,300 shares of the company’s stock worth $37,256,000 after buying an additional 92,200 shares during the period. Optiver Holding B.V. bought a new position in Parsons during the third quarter worth about $306,000. Finally, EverSource Wealth Advisors LLC grew its stake in Parsons by 32.4% in the third quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock valued at $227,000 after acquiring an additional 670 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Up 1.8%

PSN stock opened at $66.38 on Friday. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.04 and a beta of 0.66. Parsons Corporation has a twelve month low of $54.56 and a twelve month high of $89.50. The business has a 50 day moving average price of $66.79 and a two-hundred day moving average price of $75.43. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.45.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.06). Parsons had a return on equity of 11.81% and a net margin of 3.79%.The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. Analysts anticipate that Parsons Corporation will post 3.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on PSN. Stifel Nicolaus dropped their price target on Parsons from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, December 23rd. Bank of America dropped their target price on shares of Parsons from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, December 30th. Raymond James Financial lowered shares of Parsons from a “strong-buy” rating to a “market perform” rating in a research note on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Parsons in a report on Monday, December 29th. Finally, William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a report on Thursday, November 20th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Parsons has a consensus rating of “Moderate Buy” and an average target price of $83.42.

Parsons Company Profile

Parsons Corporation (NYSE: PSN) is a technology-driven engineering, construction, technical and professional services firm. The company delivers end-to-end solutions that span feasibility studies, design and engineering, construction management, system integration and ongoing operations support. Parsons serves both government and commercial clients and focuses on critical infrastructure, defense, security, intelligence and environmental programs.

Core services include program and construction management for transportation systems, water and environmental infrastructure, cybersecurity and advanced systems integration.