Junto Capital Management LP Has $33.78 Million Position in Parsons Corporation $PSN

Junto Capital Management LP lessened its stake in shares of Parsons Corporation (NYSE:PSN) by 46.6% during the third quarter, Holdings Channel.com reports. The fund owned 407,391 shares of the company’s stock after selling 355,225 shares during the period. Junto Capital Management LP’s holdings in Parsons were worth $33,781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kettle Hill Capital Management LLC lifted its position in shares of Parsons by 295.9% during the 3rd quarter. Kettle Hill Capital Management LLC now owns 373,180 shares of the company’s stock valued at $30,944,000 after acquiring an additional 278,919 shares during the period. Kingdon Capital Management L.L.C. acquired a new stake in shares of Parsons during the 3rd quarter worth $829,000. Gotham Asset Management LLC increased its position in shares of Parsons by 78.0% in the third quarter. Gotham Asset Management LLC now owns 90,196 shares of the company’s stock worth $7,479,000 after purchasing an additional 39,516 shares during the period. ArrowMark Colorado Holdings LLC increased its position in shares of Parsons by 212.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 125,000 shares of the company’s stock worth $10,365,000 after purchasing an additional 85,000 shares during the period. Finally, Raymond James Financial Inc. raised its stake in Parsons by 22.0% in the third quarter. Raymond James Financial Inc. now owns 377,889 shares of the company’s stock valued at $31,335,000 after purchasing an additional 68,196 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Trading Down 3.4%

NYSE PSN opened at $54.88 on Monday. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 1.72 and a beta of 0.68. Parsons Corporation has a twelve month low of $54.64 and a twelve month 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 business’s fifty day moving average is $66.87 and its 200 day moving average is $74.06.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, February 11th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.68 billion. Parsons had a return on equity of 11.81% and a net margin of 3.79%.Parsons’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. As a group, sell-side analysts expect that Parsons Corporation will post 3.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PSN. Citigroup upped their price objective on shares of Parsons from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Truist Financial restated a “buy” rating and issued a $85.00 target price (down from $90.00) on shares of Parsons in a research report on Thursday, February 12th. Zacks Research downgraded shares of Parsons from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. TD Cowen upgraded shares of Parsons from a “hold” rating to a “buy” rating and reduced their price target for the stock from $90.00 to $75.00 in a research report on Wednesday, December 10th. Finally, UBS Group decreased their price objective on shares of Parsons from $104.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Eleven 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.42.

About Parsons

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.