Swiss National Bank Acquires 1,400 Shares of Parsons Co. (NYSE:PSN)

Swiss National Bank raised its holdings in shares of Parsons Co. (NYSE:PSN – Get Rating) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,500 shares of the company’s stock after acquiring an additional 1,400 shares during the quarter. Swiss National Bank’s holdings in Parsons were worth $4,047,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Convergence Investment Partners LLC bought a new stake in shares of Parsons in the fourth quarter worth about $159,000. First Hawaiian Bank increased its holdings in shares of Parsons by 41.4% in the fourth quarter. First Hawaiian Bank now owns 25,105 shares of the company’s stock worth $1,161,000 after purchasing an additional 7,356 shares during the last quarter. Sargent Bickham Lagudis LLC bought a new stake in shares of Parsons in the fourth quarter worth about $32,000. Barometer Capital Management Inc. bought a new stake in shares of Parsons in the third quarter worth about $1,184,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of Parsons in the third quarter worth about $556,000. 99.59% of the stock is owned by institutional investors.

Parsons Stock Down 2.1 %

Shares of NYSE PSN opened at $44.51 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 48.38, a PEG ratio of 2.13 and a beta of 0.83. The stock has a 50 day moving average price of $44.30 and a 200 day moving average price of $45.37. Parsons Co. has a 52-week low of $35.52 and a 52-week high of $50.15.

Parsons (NYSE:PSN – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Parsons had a net margin of 2.30% and a return on equity of 8.38%. Sell-side analysts expect that Parsons Co. will post 1.88 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on PSN. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a research note on Monday, March 27th. Robert W. Baird boosted their price objective on Parsons from $50.00 to $53.00 in a research note on Thursday, May 4th. Benchmark reissued a “buy” rating and set a $51.00 price objective on shares of Parsons in a research note on Monday, April 10th. Finally, Morgan Stanley reduced their price objective on Parsons from $40.00 to $39.00 and set an “underweight” rating on the stock in a research note on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.50.

Parsons Profile

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Parsons Corp. engages in the provision of engineering, design, planning, and construction management services. It offers solutions for commercial, federal, transportation, and water resources. It delivers engineering, construction, systems and resource integration, project and program management, and environmental services to customers.