Mark Keith Holdsworth Acquires 10,000 Shares of Parsons (NYSE:PSN) Stock

Parsons Corporation (NYSE:PSN) Director Mark Keith Holdsworth acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $51.27 per share, for a total transaction of $512,700.00. Following the completion of the purchase, the director directly owned 39,918 shares in the company, valued at $2,046,595.86. This trade represents a 33.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Parsons Stock Performance

Parsons stock traded down $2.29 during midday trading on Wednesday, reaching $50.42. The stock had a trading volume of 1,437,827 shares, compared to its average volume of 1,288,649. Parsons Corporation has a 12 month low of $48.23 and a 12 month high of $89.50. The firm’s 50-day moving average price is $55.15 and its 200 day moving average price is $66.09. The firm has a market capitalization of $5.39 billion, a PE ratio of 24.12, a P/E/G ratio of 1.55 and a beta of 0.60. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.55.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. Parsons had a return on equity of 11.52% and a net margin of 3.62%.The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business posted $0.60 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, research analysts predict that Parsons Corporation will post 2.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PSN has been the topic of a number of research reports. KeyCorp cut Parsons from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 14th. Robert W. Baird restated a “neutral” rating and issued a $60.00 price objective on shares of Parsons in a research note on Monday, April 13th. Zacks Research upgraded Parsons from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Weiss Ratings restated a “hold (c)” rating on shares of Parsons in a research note on Friday, March 27th. Finally, Truist Financial decreased their price target on Parsons from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $78.17.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in shares of Parsons by 0.9% in the third quarter. Public Employees Retirement System of Ohio now owns 17,029 shares of the company’s stock worth $1,412,000 after buying an additional 144 shares during the period. Kennedy Capital Management LLC increased its stake in shares of Parsons by 0.4% in the fourth quarter. Kennedy Capital Management LLC now owns 47,680 shares of the company’s stock worth $2,947,000 after buying an additional 194 shares during the period. CI Investments Inc. increased its stake in shares of Parsons by 32.5% in the third quarter. CI Investments Inc. now owns 852 shares of the company’s stock worth $71,000 after buying an additional 209 shares during the period. NewEdge Advisors LLC increased its position in Parsons by 38.0% during 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 during the period. Finally, Vanguard Personalized Indexing Management LLC increased its position in Parsons by 4.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,156 shares of the company’s stock valued at $510,000 after purchasing an additional 278 shares during the period. Institutional investors own 98.02% of the company’s stock.

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.