Rooted Wealth Advisors Inc. Takes Position in Parsons Corporation $PSN

Rooted Wealth Advisors Inc. acquired a new stake in Parsons Corporation (NYSE:PSN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,749 shares of the company’s stock, valued at approximately $873,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Parsons during the third quarter worth approximately $40,000. Danske Bank A S acquired a new position in Parsons during the fourth quarter worth approximately $31,000. ST Germain D J Co. Inc. acquired a new position in Parsons during the fourth quarter worth approximately $41,000. Penserra Capital Management LLC acquired a new position in Parsons during the third quarter worth approximately $59,000. Finally, Farther Finance Advisors LLC increased its position in Parsons by 613.2% during the fourth quarter. Farther Finance Advisors LLC now owns 756 shares of the company’s stock worth $47,000 after purchasing an additional 650 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Price Performance

PSN opened at $53.78 on Monday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.55. Parsons Corporation has a 52-week low of $48.23 and a 52-week high of $89.50. The company has a 50 day moving average of $53.15 and a two-hundred day moving average of $64.31. The company has a market cap of $5.75 billion, a P/E ratio of 25.73, a P/E/G ratio of 1.71 and a beta of 0.60.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.09. Parsons had a net margin of 3.62% and a return on equity of 11.52%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. Parsons’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts expect that Parsons Corporation will post 2.94 earnings per share for the current year.

Insiders Place Their Bets

In other Parsons news, Director Mark Keith Holdsworth acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $51.27 per share, for a total transaction of $512,700.00. Following the completion of the purchase, the director directly owned 39,918 shares in the company, valued at $2,046,595.86. This represents a 33.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George L. Ball acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average price of $50.00 per share, with a total value of $500,000.00. Following the completion of the purchase, the director owned 150,383 shares of the company’s stock, valued at $7,519,150. This trade represents a 7.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 32,500 shares of company stock worth $1,637,325 over the last ninety days. 1.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PSN shares. KeyCorp lowered shares of Parsons from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 14th. Robert W. Baird reaffirmed a “neutral” rating and set a $60.00 price target on shares of Parsons in a research report on Monday, April 13th. Citigroup dropped their price target on shares of Parsons from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Barclays dropped their price target on shares of Parsons from $78.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Finally, Truist Financial dropped their price target on shares of Parsons from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.17.

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.