Parsons Co. (NYSE:PSN) Shares Sold by Gradient Investments LLC

Gradient Investments LLC cut its holdings in shares of Parsons Co. (NYSE:PSNGet Rating) by 7.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,642 shares of the company’s stock after selling 834 shares during the period. Gradient Investments LLC’s holdings in Parsons were worth $430,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. TD Asset Management Inc. boosted its holdings in Parsons by 100.0% in the fourth quarter. TD Asset Management Inc. now owns 34,688 shares of the company’s stock valued at $1,167,000 after purchasing an additional 17,344 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in Parsons by 55.0% in the 4th quarter. Qube Research & Technologies Ltd now owns 21,381 shares of the company’s stock valued at $719,000 after acquiring an additional 7,587 shares during the last quarter. Invesco Ltd. raised its holdings in Parsons by 12.7% in the 4th quarter. Invesco Ltd. now owns 1,107,343 shares of the company’s stock valued at $37,263,000 after acquiring an additional 124,805 shares during the last quarter. Needham Investment Management LLC raised its holdings in Parsons by 44.4% in the 4th quarter. Needham Investment Management LLC now owns 162,500 shares of the company’s stock valued at $5,469,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Summit Global Investments acquired a new stake in Parsons in the 4th quarter valued at about $615,000. 99.22% of the stock is owned by institutional investors and hedge funds.

Parsons Stock Up 2.2 %

Shares of NYSE PSN opened at $41.70 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $4.32 billion, a PE ratio of 52.13, a price-to-earnings-growth ratio of 1.94 and a beta of 0.83. The firm’s 50-day moving average is $41.77 and its two-hundred day moving average is $39.58. Parsons Co. has a 12-month low of $29.25 and a 12-month high of $43.84.

Parsons (NYSE:PSNGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.35 by $0.03. Parsons had a net margin of 2.26% and a return on equity of 9.05%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $930.97 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. Parsons’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities analysts anticipate that Parsons Co. will post 1.71 EPS for the current fiscal year.

Insider Buying and Selling at Parsons

In related news, CFO George L. Ball acquired 70,000 shares of Parsons stock in a transaction on Friday, August 5th. The shares were purchased at an average cost of $41.50 per share, for a total transaction of $2,905,000.00. Following the purchase, the chief financial officer now directly owns 122,857 shares of the company’s stock, valued at approximately $5,098,565.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Parsons from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, August 4th. Benchmark lifted their price objective on shares of Parsons to $46.00 in a research note on Tuesday, August 9th. Raymond James boosted their price target on shares of Parsons from $43.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. Finally, TheStreet upgraded shares of Parsons from a “c+” rating to a “b-” rating in a research note on Tuesday, July 19th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Parsons has an average rating of “Hold” and a consensus price target of $42.00.

About Parsons

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Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cyber security and intelligence services, as well as offensive and defensive cybersecurity platforms, tools, and operations to the U.S.

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Institutional Ownership by Quarter for Parsons (NYSE:PSN)

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