Ameritas Investment Partners Inc. Lowers Holdings in Parsons Corporation $PSN

Ameritas Investment Partners Inc. lowered its holdings in shares of Parsons Corporation (NYSE:PSN) by 99.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,009 shares of the company’s stock after selling 2,349,190 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Parsons were worth $830,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Parsons by 10.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,412 shares of the company’s stock worth $117,000 after purchasing an additional 135 shares in the last quarter. Thomas Story & Son LLC grew its stake in Parsons by 5.7% during the 3rd quarter. Thomas Story & Son LLC now owns 3,035 shares of the company’s stock worth $252,000 after purchasing an additional 165 shares in the last quarter. True Wealth Design LLC increased its position in shares of Parsons by 63.9% in the 2nd quarter. True Wealth Design LLC now owns 485 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Parsons by 38.0% in the 1st quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock valued at $57,000 after acquiring an additional 264 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Parsons by 4.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,156 shares of the company’s stock valued at $510,000 after buying an additional 278 shares during the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Stock Performance

Shares of PSN stock opened at $65.93 on Friday. The company’s fifty day moving average price is $66.88 and its two-hundred day moving average price is $75.34. Parsons Corporation has a 12 month low of $54.56 and a 12 month high of $89.50. The firm has a market capitalization of $6.98 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.07 and a beta of 0.66. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.75 and a quick ratio of 1.75.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, February 11th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.68 billion. Parsons had a return on equity of 11.81% and a net margin of 3.79%.Parsons’s revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. On average, research analysts anticipate that Parsons Corporation will post 3.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PSN has been the topic of several research reports. Robert W. Baird lowered their price objective on shares of Parsons from $100.00 to $82.00 and set an “outperform” rating on the stock in a research report on Monday, December 8th. UBS Group lowered their price target on shares of Parsons from $104.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a report on Thursday, November 20th. KeyCorp cut their target price on shares of Parsons from $80.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $85.00 target price (down from $90.00) on shares of Parsons in a research note on Thursday, February 12th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Parsons currently has an average rating of “Moderate Buy” and an average price target 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.