Citigroup Inc. Acquires 2,319 Shares of Parsons Co. (NYSE:PSN)

Citigroup Inc. grew its position in Parsons Co. (NYSE:PSN – Get Rating) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,877 shares of the company’s stock after purchasing an additional 2,319 shares during the quarter. Citigroup Inc. owned about 0.06% of Parsons worth $2,816,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PSN. Raymond James & Associates grew its holdings in Parsons by 36.5% in the first quarter. Raymond James & Associates now owns 15,876 shares of the company’s stock worth $614,000 after purchasing an additional 4,243 shares during the last quarter. Group One Trading L.P. acquired a new position in shares of Parsons in the 1st quarter valued at $27,000. HighTower Advisors LLC acquired a new position in shares of Parsons in the 1st quarter valued at $242,000. MetLife Investment Management LLC increased its position in shares of Parsons by 54.2% in the 1st quarter. MetLife Investment Management LLC now owns 15,664 shares of the company’s stock valued at $606,000 after acquiring an additional 5,504 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Parsons by 45.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 693,177 shares of the company’s stock valued at $26,827,000 after acquiring an additional 216,326 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Parsons Trading Down 1.8 %

PSN stock opened at $43.57 on Wednesday. The company’s 50-day simple moving average is $44.35 and its 200-day simple moving average is $45.30. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.35. Parsons Co. has a 52-week low of $36.09 and a 52-week high of $50.15. The firm has a market cap of $4.57 billion, a P/E ratio of 47.36, a PEG ratio of 2.08 and a beta of 0.83.

Parsons (NYSE:PSN – Get Rating) last posted its earnings results on Wednesday, May 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. Parsons had a net margin of 2.30% and a return on equity of 8.38%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.05 billion. As a group, equities analysts forecast that Parsons Co. will post 1.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PSN. Morgan Stanley cut their target price on Parsons from $40.00 to $39.00 and set an “underweight” rating on the stock in a research report on Thursday, February 16th. Benchmark reissued a “buy” rating and issued a $51.00 target price on shares of Parsons in a research report on Monday, April 10th. Robert W. Baird upped their target price on Parsons from $50.00 to $53.00 in a research report on Thursday, May 4th. Finally, William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a research report on Monday, March 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $49.50.

Parsons Company 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.