Parsons Corporation $PSN Shares Purchased by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC increased its holdings in shares of Parsons Corporation (NYSE:PSN) by 212.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,000 shares of the company’s stock after buying an additional 85,000 shares during the quarter. ArrowMark Colorado Holdings LLC owned 0.12% of Parsons worth $10,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in Parsons during the 3rd quarter valued at approximately $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Parsons during the third quarter worth $40,000. NewEdge Advisors LLC grew its holdings in shares of Parsons by 38.0% during the first quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock valued at $57,000 after buying an additional 264 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Parsons during the third quarter valued at $59,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Parsons by 176.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 828 shares of the company’s stock valued at $59,000 after acquiring an additional 528 shares during the period. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Stock Performance

NYSE PSN opened at $54.88 on Monday. The firm has a market capitalization of $5.81 billion, a P/E ratio of 24.95, a PEG ratio of 1.72 and a beta of 0.68. The stock has a 50-day simple moving average of $66.87 and a two-hundred day simple moving average of $74.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.75 and a current ratio of 1.75. Parsons Corporation has a fifty-two week low of $54.64 and a fifty-two week high of $89.50.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, February 11th. The company reported $0.75 EPS 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 analysts’ expectations of $1.68 billion. Parsons had a return on equity of 11.81% and a net margin of 3.79%.The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. On average, equities analysts forecast that Parsons Corporation will post 3.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PSN. Jefferies Financial Group restated a “hold” rating on shares of Parsons in a research note on Thursday, January 15th. UBS Group dropped their price target on Parsons from $104.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Barclays raised their price objective on Parsons from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Bank of America decreased their target price on Parsons from $95.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, December 30th. Finally, Raymond James Financial lowered Parsons from a “strong-buy” rating to a “market perform” rating in a research report on Friday, December 5th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.42.

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.