Lombard Odier Asset Management USA Corp Acquires Shares of 23,162 Parsons Corporation $PSN

Lombard Odier Asset Management USA Corp acquired a new stake in shares of Parsons Corporation (NYSE:PSN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,162 shares of the company’s stock, valued at approximately $1,921,000.

A number of other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC lifted its holdings 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 purchasing an additional 264 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Parsons by 433.9% during the first quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock worth $75,000 after buying an additional 1,024 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Parsons during the second quarter worth $228,000. Geode Capital Management LLC lifted its stake in shares of Parsons by 5.1% in the second quarter. Geode Capital Management LLC now owns 866,740 shares of the company’s stock valued at $62,216,000 after buying an additional 42,270 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Parsons by 22.5% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 20,410 shares of the company’s stock valued at $1,465,000 after buying an additional 3,745 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 20th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Parsons in a research report on Thursday, January 15th. Bank of America cut their price target on Parsons from $95.00 to $90.00 and set a “buy” rating for the company 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 report on Friday, December 5th. Finally, Stifel Nicolaus lowered their price objective on Parsons from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, December 23rd. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.42.

Parsons Stock Performance

NYSE PSN opened at $52.57 on Tuesday. The company has a fifty day moving average price of $66.59 and a 200-day moving average price of $73.87. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 1.72 and a beta of 0.68. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.75 and a quick ratio of 1.75. Parsons Corporation has a 1 year low of $52.37 and a 1 year high of $89.50.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, equities research analysts predict that Parsons Corporation will post 3.58 EPS for the current fiscal 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.