Jupiter Topco LLC Buys Shares of 92,372 Parsons Corporation $PSN

Jupiter Topco LLC purchased a new position in Parsons Corporation (NYSE:PSN) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 92,372 shares of the company’s stock, valued at approximately $4,838,000. Jupiter Topco LLC owned 0.09% of Parsons as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parsons in the fourth quarter worth $25,000. Danske Bank A S acquired a new position in Parsons during the 4th quarter valued at $31,000. Los Angeles Capital Management LLC acquired a new position in Parsons during the 4th quarter valued at $32,000. Versant Capital Management Inc boosted its holdings in Parsons by 183.6% in the 2nd quarter. Versant Capital Management Inc now owns 553 shares of the company’s stock valued at $29,000 after purchasing an additional 358 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Parsons by 613.2% in the 4th 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. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. TD Cowen reaffirmed a “buy” rating on shares of Parsons in a research report on Wednesday, July 29th. Weiss Ratings downgraded Parsons from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Stifel Nicolaus lowered their price target on Parsons from $79.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Barclays cut their price target on Parsons from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Finally, Zacks Research downgraded Parsons from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

Insider Activity at Parsons

In related news, Director George L. Ball purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $47.97 per share, with a total value of $959,400.00. Following the purchase, the director directly owned 170,383 shares in the company, valued at $8,173,272.51. This represents a 13.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.31% of the stock is owned by company insiders.

Parsons Trading Down 0.8%

Shares of PSN stock opened at $48.61 on Tuesday. Parsons Corporation has a 52-week low of $36.26 and a 52-week high of $89.50. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 33.52, a P/E/G ratio of 3.71 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a fifty day moving average of $51.33 and a 200-day moving average of $54.66.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, July 29th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.82). The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. Parsons had a net margin of 2.50% and a return on equity of 8.10%. Parsons’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. On average, equities research analysts forecast that Parsons Corporation will post 2.29 earnings per share for the current fiscal 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.