George Ball Purchases 20,000 Shares of Parsons (NYSE:PSN) Stock

Parsons Corporation (NYSE:PSN) Director George Ball bought 20,000 shares of the stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $47.97 per share, with a total value of $959,400.00. Following the purchase, the director owned 170,383 shares in the company, valued at $8,173,272.51. The trade was a 13.30% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Parsons Trading Down 3.0%

PSN stock traded down $1.45 during trading on Monday, hitting $46.10. 1,198,704 shares of the company traded hands, compared to its average volume of 1,355,328. The company has a 50-day moving average of $54.18 and a 200-day moving average of $57.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.66 and a current ratio of 1.66. Parsons Corporation has a 1 year low of $36.26 and a 1 year high of $89.50. The firm has a market capitalization of $4.92 billion, a PE ratio of 31.79, a P/E/G ratio of 3.60 and a beta of 0.68.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.82). Parsons had a return on equity of 8.10% and a net margin of 2.50%.The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the firm earned $0.78 earnings per share. Parsons’s revenue for the quarter was down .5% on a year-over-year basis. Analysts predict that Parsons Corporation will post 2.29 earnings per share for the current fiscal year.

Institutional Trading of Parsons

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Danske Bank A S purchased a new stake in Parsons in the second quarter worth $58,000. Citizens Financial Group Inc. RI purchased a new position in Parsons during the 2nd quarter valued at $1,478,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Parsons during the 2nd quarter valued at $9,053,000. State of Wyoming bought a new position in Parsons in the 2nd quarter worth $64,000. Finally, GSA Capital Partners LLP bought a new position in Parsons in the 2nd quarter worth $292,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Weiss Ratings cut shares of Parsons from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. BNP Paribas Exane set a $65.00 price objective on shares of Parsons and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Jefferies Financial Group raised shares of Parsons from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Sunday, August 2nd. William Blair reiterated an “outperform” rating on shares of Parsons in a report on Wednesday, July 29th. Finally, TD Cowen reissued a “buy” rating on shares of Parsons in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.33.

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.