Entropy Technologies LP Buys New Stake in Parsons Corporation $PSN

Entropy Technologies LP purchased a new position in shares of Parsons Corporation (NYSE:PSN) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 25,937 shares of the company’s stock, valued at approximately $1,405,000.

Several other large investors have also recently added to or reduced their stakes in PSN. Artisan Partners Limited Partnership lifted its stake in shares of Parsons by 6.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,477,159 shares of the company’s stock worth $153,088,000 after purchasing an additional 145,238 shares in the last quarter. Swedbank AB grew its stake in shares of Parsons by 126.8% in the first quarter. Swedbank AB now owns 2,387,643 shares of the company’s stock valued at $129,339,000 after buying an additional 1,335,102 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Parsons by 10.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,892,400 shares of the company’s stock valued at $102,494,000 after buying an additional 179,463 shares in the last quarter. Channing Capital Management LLC raised its holdings in shares of Parsons by 16.8% during the 4th quarter. Channing Capital Management LLC now owns 1,484,039 shares of the company’s stock valued at $91,714,000 after buying an additional 213,312 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Parsons by 151.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after buying an additional 639,481 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PSN shares. Jefferies Financial Group restated a “hold” rating on shares of Parsons in a report on Wednesday, July 8th. Truist Financial reduced their target price on shares of Parsons from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. KeyCorp downgraded shares of Parsons from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 14th. Robert W. Baird reaffirmed a “neutral” rating and set a $60.00 price target on shares of Parsons in a report on Monday, April 13th. Finally, Barclays dropped their price target on shares of Parsons from $78.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.82.

Insider Activity at Parsons

In related news, CEO Carey A. Smith acquired 12,500 shares of Parsons stock in a transaction on Friday, May 8th. The shares were purchased at an average cost of $49.97 per share, for a total transaction of $624,625.00. Following the purchase, the chief executive officer directly owned 575,376 shares of the company’s stock, valued at $28,751,538.72. The trade was a 2.22% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Keith Holdsworth acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $51.27 per share, with a total value of $512,700.00. Following the completion of the acquisition, the director owned 39,918 shares in the company, valued at $2,046,595.86. This represents a 33.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 32,500 shares of company stock valued at $1,637,325 over the last ninety days. Corporate insiders own 1.31% of the company’s stock.

Parsons Price Performance

PSN stock opened at $59.48 on Tuesday. The stock’s 50 day moving average is $55.46 and its two-hundred day moving average is $58.60. Parsons Corporation has a 52-week low of $46.88 and a 52-week high of $89.50. The company has a market capitalization of $6.36 billion, a PE ratio of 28.46, a P/E/G ratio of 1.85 and a beta of 0.66. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.55.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, April 29th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.70 by $0.09. Parsons had a return on equity of 11.52% and a net margin of 3.62%.The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business posted $0.60 EPS. The business’s revenue was down 4.1% on a year-over-year basis. Analysts predict that Parsons Corporation will post 2.97 earnings per share for the current fiscal year.

Parsons 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.