92,372 Shares in Parsons Corporation $PSN Purchased by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in shares of Parsons Corporation (NYSE:PSN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 92,372 shares of the company’s stock, valued at approximately $4,838,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in Parsons during the fourth quarter worth about $25,000. Danske Bank A S acquired a new stake in shares of Parsons during the fourth quarter worth approximately $31,000. Los Angeles Capital Management LLC bought a new position in shares of Parsons in the fourth quarter valued at approximately $32,000. Versant Capital Management Inc raised its stake in shares of Parsons by 183.6% in 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 last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of 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 acquiring an additional 650 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PSN shares. BNP Paribas Exane set a $65.00 price target on Parsons and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Robert W. Baird upgraded Parsons from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $48.00 to $57.00 in a research report on Friday, August 21st. Stifel Nicolaus reduced their price objective on Parsons from $79.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings cut Parsons from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Finally, Citigroup lowered their target price on Parsons from $66.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Eleven research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $64.08.

Insider Activity at Parsons

In other news, Director George L. Ball bought 20,000 shares of the stock in a transaction dated 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 purchase, the director owned 170,383 shares of the company’s stock, valued at approximately $8,173,272.51. This represents a 13.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.31% of the company’s stock.

Parsons Price Performance

PSN opened at $48.61 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $5.19 billion, a P/E ratio of 33.52, a price-to-earnings-growth ratio of 3.71 and a beta of 0.68. The company’s 50 day simple moving average is $51.33 and its 200-day simple moving average is $54.66. Parsons Corporation has a one year low of $36.26 and a one year high of $89.50.

Parsons (NYSE:PSN) last posted its quarterly earnings data 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). Parsons had a return on equity of 8.10% and a net margin of 2.50%.The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm earned $0.78 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts anticipate 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.