Keybank National Association OH Grows Holdings in Parsons Corporation $PSN

Keybank National Association OH lifted its holdings in shares of Parsons Corporation (NYSE:PSN) by 61.6% during the third quarter, Holdings Channel reports. The fund owned 333,655 shares of the company’s stock after purchasing an additional 127,193 shares during the quarter. Keybank National Association OH’s holdings in Parsons were worth $27,667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mather Group LLC. acquired a new stake in Parsons during the third quarter valued at approximately $25,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Parsons during the third quarter valued at approximately $40,000. True Wealth Design LLC boosted its position in Parsons by 63.9% during the 2nd quarter. True Wealth Design LLC now owns 485 shares of the company’s stock worth $35,000 after acquiring an additional 189 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings 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 during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Parsons by 38.0% in the 1st quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after acquiring an additional 264 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PSN. TD Cowen upgraded shares of Parsons from a “hold” rating to a “buy” rating and reduced their target price for the stock from $90.00 to $75.00 in a report on Wednesday, December 10th. Jefferies Financial Group reiterated a “hold” rating on shares of Parsons in a report on Thursday, January 15th. Raymond James Financial lowered Parsons from a “strong-buy” rating to a “market perform” rating in a report on Friday, December 5th. KeyCorp lifted their target price on shares of Parsons from $76.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Finally, Citigroup upped their price target on Parsons from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.54.

Parsons Stock Performance

Shares of NYSE:PSN opened at $70.07 on Friday. The business’s fifty day moving average price is $69.59 and its two-hundred day moving average price is $76.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.67 and a quick ratio of 1.67. Parsons Corporation has a fifty-two week low of $54.56 and a fifty-two week high of $89.50. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 3.97 and a beta of 0.67.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.12. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.67 billion. Parsons had a return on equity of 11.98% and a net margin of 3.69%.The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 EPS. As a group, analysts predict that Parsons Corporation will post 3.58 EPS for the current fiscal 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.