Wolverine Asset Management LLC Acquires Shares of 16,511 Parsons Corporation $PSN

Wolverine Asset Management LLC bought a new stake in shares of Parsons Corporation (NYSE:PSN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,511 shares of the company’s stock, valued at approximately $1,369,000.

Other institutional investors also recently modified their holdings of the company. William Blair Investment Management LLC boosted its stake in Parsons by 72.5% during the second quarter. William Blair Investment Management LLC now owns 1,889,281 shares of the company’s stock worth $135,594,000 after acquiring an additional 793,807 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Parsons by 151.5% during the second quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after purchasing an additional 639,481 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of Parsons in the 2nd quarter worth approximately $45,653,000. Norges Bank bought a new stake in shares of Parsons in the 2nd quarter worth approximately $37,131,000. Finally, Frontier Capital Management Co. LLC grew its stake in shares of Parsons by 568.4% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 510,525 shares of the company’s stock worth $36,640,000 after buying an additional 434,142 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PSN shares. Jefferies Financial Group reissued a “hold” rating on shares of Parsons in a report on Thursday. Barclays started coverage on shares of Parsons in a research report on Friday, December 19th. They set an “overweight” rating and a $70.00 price objective on the stock. Stifel Nicolaus decreased their target price on shares of Parsons from $94.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, December 23rd. Raymond James Financial cut shares of Parsons from a “strong-buy” rating to a “market perform” rating in a report on Friday, December 5th. Finally, KeyCorp set a $76.00 price target on shares of Parsons in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.62.

Parsons Stock Up 0.4%

PSN opened at $72.50 on Friday. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 4.04 and a beta of 0.67. The firm has a 50 day moving average price of $72.03 and a 200-day moving average price of $76.96. Parsons Corporation has a twelve month low of $54.56 and a twelve month high of $97.91. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.46.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, November 5th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.12. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.67 billion. Parsons had a net margin of 3.69% and a return on equity of 11.98%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. Equities research analysts forecast that Parsons Corporation will post 3.58 earnings per share for the current year.

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.