SG Americas Securities LLC Boosts Stake in Parsons Corporation $PSN

SG Americas Securities LLC lifted its position in Parsons Corporation (NYSE:PSN) by 771.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,033 shares of the company’s stock after purchasing an additional 27,470 shares during the quarter. SG Americas Securities LLC’s holdings in Parsons were worth $1,918,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of Parsons by 10.6% in the third quarter. GAMMA Investing LLC now owns 1,412 shares of the company’s stock valued at $117,000 after acquiring an additional 135 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Parsons by 0.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,029 shares of the company’s stock valued at $1,412,000 after acquiring an additional 144 shares during the period. Thomas Story & Son LLC raised its position in Parsons by 5.7% in the 3rd quarter. Thomas Story & Son LLC now owns 3,035 shares of the company’s stock valued at $252,000 after purchasing an additional 165 shares during the last quarter. CI Investments Inc. boosted its stake in Parsons by 32.5% during the 3rd quarter. CI Investments Inc. now owns 852 shares of the company’s stock worth $71,000 after purchasing an additional 209 shares during the period. Finally, NewEdge Advisors LLC grew its position in Parsons by 38.0% during the 1st quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after purchasing an additional 264 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PSN. Jefferies Financial Group restated a “hold” rating on shares of Parsons in a research note on Thursday, January 15th. Barclays lowered their price target on Parsons from $78.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Bank of America reduced their price objective on Parsons from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, December 30th. Robert W. Baird decreased their price objective on Parsons from $100.00 to $82.00 and set an “outperform” rating for the company in a research report on Monday, December 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Parsons in a research note on Friday, March 27th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.25.

Parsons Trading Down 0.0%

Shares of Parsons stock opened at $56.30 on Monday. Parsons Corporation has a 52-week low of $49.38 and a 52-week high of $89.50. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.45. The company’s 50-day simple moving average is $61.73 and its 200-day simple moving average is $71.48. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 1.76 and a beta of 0.73.

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). Parsons had a net margin of 3.79% and a return on equity of 11.81%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business earned $0.78 EPS. Parsons’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, equities research analysts anticipate that Parsons Corporation will post 3.58 earnings per share for the current 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.