11,289 Shares in Parsons Corporation $PSN Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of Parsons Corporation (NYSE:PSN) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 11,289 shares of the company’s stock, valued at approximately $591,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new position in shares of Parsons during the 4th quarter worth about $25,000. Los Angeles Capital Management LLC acquired a new stake in Parsons during the fourth quarter worth about $32,000. Versant Capital Management Inc increased its stake in Parsons by 183.6% during the second quarter. Versant Capital Management Inc now owns 553 shares of the company’s stock valued at $29,000 after acquiring an additional 358 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Parsons by 176.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 828 shares of the company’s stock valued at $59,000 after acquiring an additional 528 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Parsons in the 4th quarter worth approximately $53,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Trading Down 0.8%

PSN stock opened at $45.90 on Friday. Parsons Corporation has a 1-year low of $36.26 and a 1-year high of $89.50. The firm has a market cap of $4.90 billion, a P/E ratio of 31.66, a P/E/G ratio of 3.51 and a beta of 0.71. The business’s 50 day moving average is $50.60 and its 200-day moving average is $53.72. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.54.

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

Insider Transactions at Parsons

In related news, Director George Ball acquired 20,000 shares of the business’s stock in a transaction on 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 completion of the acquisition, the director owned 170,383 shares in the company, valued at $8,173,272.51. The trade was a 13.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays decreased their price objective on Parsons from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Jefferies Financial Group raised Parsons from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Sunday, August 2nd. Citigroup decreased their price target on shares of Parsons from $66.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings lowered shares of Parsons from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Finally, Stifel Nicolaus dropped their price objective on shares of Parsons from $79.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

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.