Parsons Corporation $PSN Shares Sold by Keybank National Association OH

Keybank National Association OH lowered its position in Parsons Corporation (NYSE:PSN) by 67.6% during the first quarter, HoldingsChannel reports. The firm owned 29,172 shares of the company’s stock after selling 60,964 shares during the period. Keybank National Association OH’s holdings in Parsons were worth $1,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in Parsons during the 4th quarter worth $25,000. Danske Bank A S acquired a new stake in shares of Parsons in the fourth quarter valued at about $31,000. Los Angeles Capital Management LLC purchased a new position in shares of Parsons in the fourth quarter worth about $32,000. ST Germain D J Co. Inc. acquired a new position in Parsons during the fourth quarter worth about $41,000. Finally, Farther Finance Advisors LLC boosted 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 acquiring an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PSN shares. Barclays dropped their price objective on shares of Parsons from $78.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. KeyCorp cut Parsons from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 14th. Jefferies Financial Group restated a “hold” rating on shares of Parsons in a research report on Sunday, May 3rd. Weiss Ratings cut Parsons from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $60.00 price objective on shares of Parsons in a research report on Monday, April 13th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Parsons presently has an average rating of “Moderate Buy” and an average price target of $77.00.

Insider Activity at Parsons

In other Parsons news, Director Mark Keith Holdsworth bought 10,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $51.27 per share, with a total value 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. The trade was a 33.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Carey A. Smith bought 12,500 shares of Parsons stock in a transaction on Friday, May 8th. The stock was acquired at an average price of $49.97 per share, for a total transaction of $624,625.00. Following the transaction, the chief executive officer directly owned 575,376 shares of the company’s stock, valued at approximately $28,751,538.72. This trade represents a 2.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 32,500 shares of company stock worth $1,637,325. Insiders own 1.31% of the company’s stock.

Parsons Trading Down 0.3%

Parsons stock traded down $0.20 during midday trading on Tuesday, hitting $57.25. 51,601 shares of the stock were exchanged, compared to its average volume of 1,260,894. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 1.77 and a beta of 0.66. The stock’s 50-day simple moving average is $53.77 and its 200 day simple moving average is $59.23. Parsons Corporation has a fifty-two week low of $46.88 and a fifty-two week high of $89.50.

Parsons (NYSE:PSN) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.09. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Parsons had a net margin of 3.62% and a return on equity of 11.52%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. On average, equities analysts anticipate that Parsons Corporation will post 2.97 EPS 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.