Blackston Financial Advisory Group LLC Buys New Stake in Parsons Corporation $PSN

Blackston Financial Advisory Group LLC purchased a new position in shares of Parsons Corporation (NYSE:PSN) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 4,322 shares of the company’s stock, valued at approximately $310,000.

Several other large investors also recently bought and sold shares of the stock. First Command Advisory Services Inc. purchased a new position in shares of Parsons during the first quarter worth approximately $385,000. Vanguard Group Inc. boosted its stake in Parsons by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company’s stock worth $293,226,000 after purchasing an additional 376,764 shares during the period. Deutsche Bank AG grew its position in Parsons by 34.7% during the 1st quarter. Deutsche Bank AG now owns 41,869 shares of the company’s stock worth $2,479,000 after purchasing an additional 10,776 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Parsons by 5.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 446,931 shares of the company’s stock valued at $26,463,000 after purchasing an additional 21,709 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Parsons by 41.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,035 shares of the company’s stock valued at $1,186,000 after buying an additional 5,828 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of PSN stock opened at $85.73 on Monday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $82.02 and a 200-day simple moving average of $75.37. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 39.32, a price-to-earnings-growth ratio of 4.51 and a beta of 0.62. Parsons Corporation has a 12-month low of $54.56 and a 12-month high of $114.20.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.12. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.67 billion. Parsons had a return on equity of 11.98% and a net margin of 3.69%.Parsons’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. Parsons has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Parsons Corporation will post 3.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PSN. Robert W. Baird raised their price target on Parsons from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Zacks Research raised Parsons from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Parsons in a report on Wednesday, October 8th. Truist Financial upped their price target on Parsons from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Finally, KeyCorp lifted their price objective on shares of Parsons from $87.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.40.

About Parsons

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.