Parsons Corporation $PSN Shares Purchased by Goodman Financial Corp

Goodman Financial Corp boosted its holdings in Parsons Corporation (NYSE:PSN) by 44.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 319,144 shares of the company’s stock after buying an additional 98,560 shares during the quarter. Parsons makes up about 3.0% of Goodman Financial Corp’s holdings, making the stock its 10th largest position. Goodman Financial Corp owned 0.30% of Parsons worth $17,288,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PSN. Artisan Partners Limited Partnership boosted its position in shares of Parsons by 6.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,477,159 shares of the company’s stock worth $153,088,000 after acquiring an additional 145,238 shares in the last quarter. Swedbank AB lifted its stake in Parsons by 126.8% during the first quarter. Swedbank AB now owns 2,387,643 shares of the company’s stock worth $129,339,000 after purchasing an additional 1,335,102 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Parsons by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,712,937 shares of the company’s stock worth $105,863,000 after purchasing an additional 30,351 shares during the last quarter. Channing Capital Management LLC boosted its holdings in Parsons by 16.8% in the fourth quarter. Channing Capital Management LLC now owns 1,484,039 shares of the company’s stock valued at $91,714,000 after purchasing an additional 213,312 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Parsons by 151.5% in the second quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after purchasing an additional 639,481 shares in the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PSN. Jefferies Financial Group reissued a “hold” rating on shares of Parsons in a report on Wednesday, July 8th. Barclays lowered their target price on shares of Parsons from $78.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Truist Financial cut their price target on shares of Parsons from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Robert W. Baird reissued a “neutral” rating and issued a $60.00 price target on shares of Parsons in a research report on Monday, April 13th. Finally, Weiss Ratings downgraded shares of Parsons from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.82.

Insiders Place Their Bets

In other Parsons news, CEO Carey A. Smith acquired 12,500 shares of the stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $49.97 per share, with a total value of $624,625.00. Following the transaction, the chief executive officer owned 575,376 shares of the company’s stock, valued at approximately $28,751,538.72. This trade represents a 2.22% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director George L. Ball acquired 10,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $50.00 per share, for a total transaction of $500,000.00. Following the completion of the purchase, the director owned 150,383 shares of the company’s stock, valued at $7,519,150. This trade represents a 7.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 32,500 shares of company stock valued at $1,637,325. Insiders own 1.31% of the company’s stock.

Parsons Price Performance

PSN stock opened at $57.97 on Friday. The company has a market capitalization of $6.20 billion, a P/E ratio of 27.74, a PEG ratio of 1.78 and a beta of 0.66. Parsons Corporation has a twelve month low of $46.88 and a twelve month high of $89.50. The business has a 50 day simple moving average of $54.52 and a 200-day simple moving average of $58.90. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.55.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, April 29th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. Parsons had a net margin of 3.62% and a return on equity of 11.52%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company posted $0.60 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities analysts anticipate that Parsons Corporation will post 2.97 EPS for the current year.

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.