SW Investment Management LLC Raises Holdings in Parsons Corporation $PSN

SW Investment Management LLC lifted its stake in shares of Parsons Corporation (NYSE:PSN) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 565,000 shares of the company’s stock after purchasing an additional 65,000 shares during the quarter. Parsons comprises about 9.7% of SW Investment Management LLC’s investment portfolio, making the stock its 6th largest holding. SW Investment Management LLC’s holdings in Parsons were worth $40,550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PSN. Fifth Third Bancorp raised its stake in shares of Parsons by 1,803.4% during the first quarter. Fifth Third Bancorp now owns 552 shares of the company’s stock valued at $33,000 after purchasing an additional 523 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Parsons by 238.7% during the first quarter. UMB Bank n.a. now owns 552 shares of the company’s stock valued at $33,000 after purchasing an additional 389 shares in the last quarter. Banque Transatlantique SA bought a new stake in shares of Parsons during the first quarter valued at about $34,000. Signaturefd LLC raised its stake in shares of Parsons by 63.1% during the first quarter. Signaturefd LLC now owns 610 shares of the company’s stock valued at $36,000 after purchasing an additional 236 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Parsons by 38.0% during the first quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock valued at $57,000 after purchasing an additional 264 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PSN has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on shares of Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Stifel Nicolaus initiated coverage on shares of Parsons in a research report on Tuesday, June 24th. They set a “buy” rating and a $81.00 price objective for the company. Raymond James Financial upgraded shares of Parsons from a “market perform” rating to a “strong-buy” rating and set a $90.00 price objective for the company in a research report on Tuesday, July 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Parsons in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group raised their price objective on shares of Parsons from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $90.80.

Parsons Price Performance

PSN stock opened at $85.93 on Monday. The firm has a 50-day moving average of $80.16 and a two-hundred day moving average of $72.33. The firm has a market capitalization of $9.18 billion, a PE ratio of 38.36, a P/E/G ratio of 4.51 and a beta of 0.64. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.47. Parsons Corporation has a one year low of $54.56 and a one year high of $114.68.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Parsons had a net margin of 3.70% and a return on equity of 12.36%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. On average, analysts forecast that Parsons Corporation will post 3.58 earnings per share for the current year.

Parsons Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.