SG Capital Management LLC Acquires New Stake in Parsons Corporation $PSN

SG Capital Management LLC bought a new position in Parsons Corporation (NYSE:PSN) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 323,421 shares of the company’s stock, valued at approximately $23,212,000. Parsons accounts for about 1.6% of SG Capital Management LLC’s investment portfolio, making the stock its 13th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC lifted its holdings in shares of Parsons by 63.9% in the second quarter. True Wealth Design LLC now owns 485 shares of the company’s stock valued at $35,000 after buying an additional 189 shares during the period. Signaturefd LLC lifted its holdings in Parsons by 63.1% in the 1st quarter. Signaturefd LLC now owns 610 shares of the company’s stock valued at $36,000 after acquiring an additional 236 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Parsons in the 1st quarter valued at about $34,000. NewEdge Advisors LLC boosted its position in shares of Parsons by 38.0% during the 1st 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. Finally, Jones Financial Companies Lllp grew its stake in shares of Parsons by 433.9% in the 1st quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock worth $75,000 after purchasing an additional 1,024 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Robert W. Baird increased their target price on shares of Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Truist Financial increased their price objective on Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. KeyCorp boosted their target price on Parsons from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Baird R W raised Parsons from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parsons has a consensus rating of “Moderate Buy” and an average target price of $91.40.

Parsons Stock Performance

Shares of Parsons stock opened at $82.47 on Friday. Parsons Corporation has a 12 month low of $54.56 and a 12 month high of $101.92. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.78 billion, a PE ratio of 37.83, a price-to-earnings-growth ratio of 4.41 and a beta of 0.62. The business has a fifty day simple moving average of $82.77 and a 200-day simple moving average of $75.88.

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