Parsons Corporation $PSN Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its position in shares of Parsons Corporation (NYSE:PSN) by 94.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,467 shares of the company’s stock after selling 492,905 shares during the quarter. Janus Henderson Group PLC’s holdings in Parsons were worth $1,488,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Swedbank AB grew its position in Parsons by 126.8% in the first quarter. Swedbank AB now owns 2,387,643 shares of the company’s stock worth $129,339,000 after acquiring an additional 1,335,102 shares during the period. AQR Capital Management LLC raised its position in Parsons by 151.5% in the second quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after purchasing an additional 639,481 shares during the period. Brown Advisory Inc. lifted its stake in shares of Parsons by 142.1% in the 4th quarter. Brown Advisory Inc. now owns 833,322 shares of the company’s stock valued at $51,499,000 after purchasing an additional 489,187 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Parsons in the 3rd quarter valued at $38,880,000. Finally, Cooper Creek Partners Management LLC grew its holdings in shares of Parsons by 1,248.6% during the 1st quarter. Cooper Creek Partners Management LLC now owns 505,128 shares of the company’s stock worth $27,363,000 after purchasing an additional 467,672 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PSN shares. Truist Financial reissued a “buy” rating and set a $60.00 price objective (down from $75.00) on shares of Parsons in a research report on Thursday, July 30th. TD Cowen reaffirmed a “buy” rating on shares of Parsons in a research report on Wednesday, July 29th. Barclays lowered their target price on shares of Parsons from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Jefferies Financial Group upgraded shares of Parsons from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Sunday, August 2nd. Finally, UBS Group reduced their price target on shares of Parsons from $67.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Parsons presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.33.

Parsons Price Performance

PSN stock opened at $47.57 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market capitalization of $5.08 billion, a P/E ratio of 32.81, a P/E/G ratio of 3.60 and a beta of 0.68. The business’s 50-day moving average is $54.18 and its two-hundred day moving average is $57.19. Parsons Corporation has a 1 year low of $36.26 and a 1 year high of $89.50.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.82). Parsons had a return on equity of 8.10% and a net margin of 2.50%.The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. Analysts anticipate that Parsons Corporation will post 2.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director George L. Ball purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $50.00 per share, for a total transaction of $500,000.00. Following the completion of the purchase, the director directly owned 150,383 shares of the company’s stock, valued at $7,519,150. The trade was a 7.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Keith Holdsworth purchased 10,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were purchased at an average price of $51.27 per share, with a total value of $512,700.00. Following the acquisition, the director directly owned 39,918 shares in the company, valued at $2,046,595.86. This represents a 33.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.31% of the stock is owned by insiders.

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.