Cwm LLC Has $1.21 Million Stock Holdings in Parsons Corporation $PSN

Cwm LLC lessened its holdings in Parsons Corporation (NYSE:PSN) by 34.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,505 shares of the company’s stock after selling 10,246 shares during the period. Cwm LLC’s holdings in Parsons were worth $1,205,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in Parsons in the third quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Parsons in the third quarter worth about $40,000. Penserra Capital Management LLC acquired a new position in Parsons during the third quarter worth $59,000. Farther Finance Advisors LLC raised its stake in Parsons by 613.2% during the fourth quarter. Farther Finance Advisors LLC now owns 756 shares of the company’s stock worth $47,000 after acquiring an additional 650 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Parsons by 176.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 828 shares of the company’s stock worth $59,000 after acquiring an additional 528 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of Parsons stock opened at $53.40 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market cap of $5.65 billion, a P/E ratio of 24.27, a P/E/G ratio of 1.67 and a beta of 0.73. The firm has a 50 day simple moving average of $57.93 and a 200 day simple moving average of $68.49. Parsons Corporation has a fifty-two week low of $49.38 and a fifty-two week high of $89.50.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.68 billion. Parsons had a net margin of 3.79% and a return on equity of 11.81%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. Sell-side analysts predict that Parsons Corporation will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. KeyCorp lowered Parsons from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Parsons in a research note on Friday, March 27th. Barclays dropped their price objective on Parsons from $78.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Jefferies Financial Group reiterated a “hold” rating on shares of Parsons in a research note on Thursday, January 15th. Finally, Bank of America dropped their price objective on shares of Parsons from $95.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, December 30th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.58.

About Parsons

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.