Advisors Asset Management Inc. Has $1.66 Million Stake in Parsons Corporation $PSN

Advisors Asset Management Inc. lowered its holdings in shares of Parsons Corporation (NYSE:PSN) by 33.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,973 shares of the company’s stock after selling 9,994 shares during the quarter. Advisors Asset Management Inc.’s holdings in Parsons were worth $1,656,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Versor Investments LP acquired a new position in shares of Parsons in the 3rd quarter valued at approximately $290,000. State of Michigan Retirement System lifted its stake in Parsons by 12.4% in the third quarter. State of Michigan Retirement System now owns 12,700 shares of the company’s stock valued at $1,053,000 after buying an additional 1,400 shares in the last quarter. Machina Capital S.A.S. acquired a new position in shares of Parsons in the third quarter valued at approximately $233,000. Penserra Capital Management LLC bought a new stake in shares of Parsons during the third quarter worth $59,000. Finally, AXS Investments LLC acquired a new stake in shares of Parsons during the third quarter worth $83,000. Institutional investors own 98.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Parsons from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, December 23rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of Parsons in a research report on Thursday, January 15th. William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a report on Thursday, November 20th. TD Cowen raised Parsons from a “hold” rating to a “buy” rating and reduced their price target for the stock from $90.00 to $75.00 in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Parsons in a research note on Monday, December 29th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.92.

Parsons Stock Performance

NYSE PSN opened at $63.36 on Tuesday. The firm has a market capitalization of $6.71 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 3.55 and a beta of 0.66. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.45. The firm’s fifty day moving average price is $66.55 and its two-hundred day moving average price is $76.06. Parsons Corporation has a 1 year low of $54.56 and a 1 year high of $89.50.

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

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.