Rhumbline Advisers Buys 2,726 Shares of Parsons Corporation $PSN

by · The Markets Daily

Rhumbline Advisers increased its stake in shares of Parsons Corporation (NYSE:PSN – Free Report) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 125,813 shares of the company’s stock after purchasing an additional 2,726 shares during the quarter. Rhumbline Advisers’ holdings in Parsons were worth $9,030,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in Parsons by 19.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,007 shares of the company’s stock worth $415,000 after buying an additional 1,131 shares during the period. Blair William & Co. IL lifted its holdings in shares of Parsons by 1,446.8% in the 1st quarter. Blair William & Co. IL now owns 164,361 shares of the company’s stock worth $9,732,000 after acquiring an additional 153,735 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Parsons by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company’s stock worth $293,226,000 after purchasing an additional 376,764 shares during the period. Primecap Management Co. CA bought a new position in Parsons during the 1st quarter valued at about $19,824,000. Finally, Charles Schwab Investment Management Inc. raised its position in Parsons by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 446,931 shares of the company’s stock worth $26,463,000 after purchasing an additional 21,709 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

PSN has been the topic of a number of analyst reports. Zacks Research raised Parsons from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Robert W. Baird upped their price objective on Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Baird R W upgraded Parsons from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. Finally, UBS Group began coverage on shares of Parsons in a research note on Wednesday, November 19th. They issued a “buy” rating and a $107.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.82.

Check Out Our Latest Analysis on Parsons

Parsons Stock Performance

Shares of NYSE:PSN opened at $82.75 on Tuesday. The firm has a 50 day moving average of $83.93 and a 200 day moving average of $77.45. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 37.96, a price-to-earnings-growth ratio of 4.38 and a beta of 0.65. Parsons Corporation has a 52 week low of $54.56 and a 52 week high of $101.92.

Parsons (NYSE:PSN – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.12. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.67 billion. Parsons had a return on equity of 11.98% and a net margin of 3.69%.The business’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.95 EPS. Parsons has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Parsons Corporation will post 3.58 earnings per share for the current fiscal year.

Parsons Profile

(Free Report)

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.

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