Public Employees Retirement System of Ohio Invests $591,000 in Parsons Corporation $PSN

Public Employees Retirement System of Ohio bought a new stake in Parsons Corporation (NYSE:PSN) in the second quarter, Holdings Channel reports. The institutional investor bought 11,289 shares of the company’s stock, valued at approximately $591,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new stake in Parsons during the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC bought a new position in Parsons in the 4th quarter valued at $32,000. Versant Capital Management Inc raised its position in Parsons by 183.6% in the 2nd quarter. Versant Capital Management Inc now owns 553 shares of the company’s stock valued at $29,000 after purchasing an additional 358 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Parsons by 176.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 828 shares of the company’s stock worth $59,000 after purchasing an additional 528 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Parsons in the fourth quarter worth $53,000. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Jefferies Financial Group upgraded Parsons from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Sunday, August 2nd. Barclays decreased their price objective 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. Weiss Ratings cut shares of Parsons from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. TD Cowen reiterated a “buy” rating on shares of Parsons in a research report on Wednesday, July 29th. Finally, BNP Paribas Exane set a $65.00 price target on shares of Parsons and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.08.

Insiders Place Their Bets

In other Parsons news, Director George Ball acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average cost of $47.97 per share, for a total transaction of $959,400.00. Following the completion of the acquisition, the director directly owned 170,383 shares of the company’s stock, valued at approximately $8,173,272.51. This represents a 13.30% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.31% of the stock is owned by corporate insiders.

Parsons Price Performance

Shares of PSN stock opened at $45.90 on Friday. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 3.51 and a beta of 0.71. Parsons Corporation has a 12 month low of $36.26 and a 12 month high of $89.50. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $50.60 and a 200 day moving average price of $53.72.

Parsons (NYSE:PSN) last issued its earnings results 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). Parsons had a net margin of 2.50% and a return on equity of 8.10%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the business posted $0.78 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts expect that Parsons Corporation will post 2.29 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.