Parsons Corporation $PSN Shares Purchased by Kettle Hill Capital Management LLC

Kettle Hill Capital Management LLC boosted its holdings in shares of Parsons Corporation (NYSE:PSN) by 295.9% in the third quarter, Holdings Channel reports. The firm owned 373,180 shares of the company’s stock after purchasing an additional 278,919 shares during the quarter. Parsons comprises about 7.0% of Kettle Hill Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Kettle Hill Capital Management LLC’s holdings in Parsons were worth $30,944,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Parsons by 10.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,412 shares of the company’s stock worth $117,000 after buying an additional 135 shares in the last quarter. Thomas Story & Son LLC grew its position in Parsons by 5.7% in the third quarter. Thomas Story & Son LLC now owns 3,035 shares of the company’s stock valued at $252,000 after acquiring an additional 165 shares during the period. True Wealth Design LLC raised its stake in Parsons by 63.9% during the second quarter. True Wealth Design LLC now owns 485 shares of the company’s stock worth $35,000 after acquiring an additional 189 shares in the last quarter. CI Investments Inc. lifted its holdings in shares of Parsons by 32.5% during the third quarter. CI Investments Inc. now owns 852 shares of the company’s stock valued at $71,000 after acquiring an additional 209 shares during the period. Finally, NewEdge Advisors LLC boosted 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 valued at $57,000 after purchasing an additional 264 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Parsons in a research report on Monday, December 29th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Parsons in a report on Thursday, January 15th. Citigroup lifted their target price on shares of Parsons from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. KeyCorp reduced their target price on Parsons from $80.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Finally, Truist Financial reaffirmed a “buy” rating and set a $85.00 price target (down from $90.00) on shares of Parsons in a report on Thursday, February 12th. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.92.

Parsons Stock Down 1.8%

NYSE:PSN opened at $64.35 on Tuesday. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 2.03 and a beta of 0.66. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.75 and a current ratio of 1.75. The stock’s fifty day moving average price is $66.51 and its two-hundred day moving average price is $75.66. Parsons Corporation has a 52-week low of $54.56 and a 52-week high of $89.50.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, February 11th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.06). Parsons had a net margin of 3.79% and a return on equity of 11.81%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the business posted $0.78 earnings per share. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. On average, analysts anticipate that Parsons Corporation will post 3.58 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.