Parsons Corporation $PSN Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Parsons Corporation (NYSE:PSN) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 728,786 shares of the company’s stock after selling 115,077 shares during the quarter. Principal Financial Group Inc.’s holdings in Parsons were worth $45,039,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSN. Mather Group LLC. acquired a new stake in shares of Parsons during the 3rd quarter worth approximately $25,000. Danske Bank A S acquired a new stake in shares of Parsons during the 4th quarter worth approximately $31,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Parsons during the 3rd quarter worth approximately $40,000. ST Germain D J Co. Inc. acquired a new stake in shares of Parsons during the 4th quarter worth approximately $41,000. Finally, Farther Finance Advisors LLC raised its position in shares of Parsons by 613.2% during the 4th quarter. Farther Finance Advisors LLC now owns 756 shares of the company’s stock worth $47,000 after purchasing an additional 650 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Down 3.8%

PSN opened at $49.29 on Friday. Parsons Corporation has a 12 month low of $48.80 and a 12 month high of $89.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market cap of $5.27 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.63 and a beta of 0.60. The stock’s 50 day moving average price is $56.09 and its 200 day moving average price is $66.81.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, April 29th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.70 by $0.09. Parsons had a return on equity of 11.52% and a net margin of 3.62%.The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm earned $0.60 EPS. The firm’s 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 year.

Analyst Ratings Changes

A number of analysts have recently weighed in on PSN shares. Barclays dropped their price target on Parsons from $78.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. KeyCorp cut Parsons from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 14th. Robert W. Baird reiterated a “neutral” rating and set a $60.00 price target on shares of Parsons in a research report on Monday, April 13th. Jefferies Financial Group reiterated a “hold” rating on shares of Parsons in a research report on Sunday, May 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Parsons in a research report on Friday, March 27th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.17.

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.