Edmond DE Rothschild Holding S.A. Acquires Shares of 60,710 Parsons Corporation $PSN

Edmond DE Rothschild Holding S.A. bought a new position in shares of Parsons Corporation (NYSE:PSN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 60,710 shares of the company’s stock, valued at approximately $3,181,000.

Other large investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in shares of Parsons in the 4th quarter valued at $25,000. Versant Capital Management Inc lifted its position in shares of Parsons by 183.6% during the 2nd quarter. Versant Capital Management Inc now owns 553 shares of the company’s stock worth $29,000 after buying an additional 358 shares during the last quarter. Danske Bank A S bought a new stake in shares of Parsons during the 4th quarter worth $31,000. Los Angeles Capital Management LLC acquired a new stake in Parsons in the fourth quarter valued at about $32,000. Finally, ST Germain D J Co. Inc. acquired a new stake in Parsons in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PSN shares. Stifel Nicolaus decreased their target price on Parsons from $79.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Citigroup dropped their target price on shares of Parsons from $66.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Truist Financial restated a “buy” rating and issued a $60.00 price target (down from $75.00) on shares of Parsons in a research note on Thursday, July 30th. Barclays decreased their price target on shares of Parsons from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Finally, The Goldman Sachs Group lowered their price objective on shares of Parsons from $69.00 to $60.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Parsons presently has an average rating of “Moderate Buy” and a consensus target price of $64.33.

Insider Buying and Selling at Parsons

In other Parsons news, Director George L. Ball acquired 20,000 shares of Parsons stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $47.97 per share, with a total value of $959,400.00. Following the completion of the purchase, the director directly owned 170,383 shares in the company, valued at $8,173,272.51. This trade represents a 13.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.31% of the stock is currently owned by corporate insiders.

Parsons Stock Performance

Shares of PSN stock opened at $46.06 on Friday. The business’s 50-day moving average price is $52.02 and its 200-day moving average price is $55.64. Parsons Corporation has a 12 month low of $36.26 and a 12 month high of $89.50. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 3.57 and a beta of 0.68. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.54.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.82). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. Parsons had a net margin of 2.50% and a return on equity of 8.10%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. Equities research analysts forecast that Parsons Corporation will post 2.29 EPS for the current 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.