WINTON GROUP Ltd Invests $2.04 Million in Parsons Corporation $PSN

WINTON GROUP Ltd acquired a new position in Parsons Corporation (NYSE:PSN) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 24,632 shares of the company’s stock, valued at approximately $2,042,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mather Group LLC. purchased a new position in Parsons in the 3rd quarter worth approximately $25,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Parsons during the 3rd quarter valued at $40,000. Penserra Capital Management LLC purchased a new stake in shares of Parsons during the 3rd quarter valued at $59,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Parsons by 176.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 828 shares of the company’s stock worth $59,000 after acquiring an additional 528 shares during the last quarter. Finally, CI Investments Inc. lifted its holdings in shares of Parsons by 32.5% during the 3rd quarter. CI Investments Inc. now owns 852 shares of the company’s stock worth $71,000 after acquiring an additional 209 shares during the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Price Performance

Shares of NYSE:PSN opened at $59.41 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.45. The stock has a market cap of $6.29 billion, a PE ratio of 27.00, a PEG ratio of 1.96 and a beta of 0.68. The company’s fifty day moving average is $67.18 and its 200 day moving average is $74.55. Parsons Corporation has a 52 week low of $56.27 and a 52 week high of $89.50.

Parsons (NYSE:PSN) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.75 earnings per share (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 business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. The business’s quarterly revenue was down 7.5% on a year-over-year basis. Research analysts anticipate that Parsons Corporation will post 3.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PSN shares. Bank of America reduced their target price on Parsons from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, December 30th. Raymond James Financial lowered Parsons from a “strong-buy” rating to a “market perform” rating in a research note on Friday, December 5th. Truist Financial reiterated a “buy” rating and issued a $85.00 price objective (down from $90.00) on shares of Parsons in a report on Thursday, February 12th. Stifel Nicolaus decreased their price objective on Parsons from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, December 23rd. Finally, TD Cowen upgraded Parsons from a “hold” rating to a “buy” rating and dropped their target price for the stock from $90.00 to $75.00 in a research report on Wednesday, December 10th. Eleven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.42.

About Parsons

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.