Benin Management CORP boosted its holdings in shares of Parsons Corp (NYSE:PSN) by 12.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,720 shares of the company’s stock after buying an additional 1,920 shares during the quarter. Benin Management CORP’s holdings in Parsons were worth $732,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada acquired a new stake in shares of Parsons in the 2nd quarter valued at $34,000. US Bancorp DE acquired a new stake in shares of Parsons in the 2nd quarter valued at $50,000. Meeder Asset Management Inc. acquired a new stake in shares of Parsons in the 3rd quarter valued at $51,000. New York State Teachers Retirement System acquired a new stake in shares of Parsons in the 3rd quarter valued at $53,000. Finally, Bank of Montreal Can acquired a new stake in shares of Parsons in the 2nd quarter valued at $57,000. Institutional investors own 99.94% of the company’s stock.
A number of brokerages have recently weighed in on PSN. Stifel Nicolaus began coverage on shares of Parsons in a report on Tuesday, December 10th. They issued a “hold” rating and a $44.00 price objective on the stock. SunTrust Banks raised their price objective on shares of Parsons to $44.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Cowen reiterated a “buy” rating and set a $40.00 price target on shares of Parsons in a research note on Friday, November 15th. ValuEngine downgraded shares of Parsons from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Wells Fargo & Co downgraded shares of Parsons from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $39.00 to $42.00 in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Parsons currently has a consensus rating of “Hold” and an average target price of $41.38.
Shares of Parsons stock opened at $42.87 on Friday. Parsons Corp has a 1 year low of $29.03 and a 1 year high of $43.85. The company’s fifty day moving average is $41.78 and its two-hundred day moving average is $37.28.
Parsons (NYSE:PSN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.15. Parsons had a net margin of 2.97% and a negative return on equity of 11.53%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm posted $0.82 EPS. Parsons’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, research analysts forecast that Parsons Corp will post 1.61 EPS for the current year.
Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates in two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity software and engineering services, hardware prototyping, and other technical services to the U.S.
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