Flagship Harbor Advisors LLC Purchases New Stake in Parsons Corporation $PSN

Flagship Harbor Advisors LLC purchased a new stake in Parsons Corporation (NYSE:PSN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,681 shares of the company’s stock, valued at approximately $845,000.

A number of other institutional investors have also recently modified their holdings of the business. Mather Group LLC. acquired a new position in Parsons during the third quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Parsons in the third quarter worth $40,000. Penserra Capital Management LLC purchased a new stake in shares of Parsons in the third quarter valued at $59,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Parsons by 176.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 828 shares of the company’s stock valued at $59,000 after purchasing an additional 528 shares during the period. Finally, CI Investments Inc. grew its position in shares of Parsons by 32.5% in the third quarter. CI Investments Inc. now owns 852 shares of the company’s stock valued at $71,000 after purchasing an additional 209 shares during the period. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus decreased their target price on Parsons from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, December 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Parsons in a research note on Friday, March 27th. Barclays cut their price objective on Parsons from $78.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Zacks Research cut Parsons from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Finally, TD Cowen raised Parsons from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $90.00 to $75.00 in a report on Wednesday, December 10th. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Parsons currently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Parsons Price Performance

PSN opened at $58.03 on Thursday. The stock has a fifty day moving average of $60.88 and a 200-day moving average of $71.03. The firm has a market capitalization of $6.14 billion, a P/E ratio of 26.38, a PEG ratio of 1.76 and a beta of 0.73. Parsons Corporation has a 12-month low of $49.38 and a 12-month high of $89.50. 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 released its earnings results 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 net margin of 3.79% and a return on equity of 11.81%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the company earned $0.78 EPS. Parsons’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities analysts forecast that Parsons Corporation will post 3.58 EPS for the current fiscal year.

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.