Lombard Odier Asset Management USA Corp Takes Position in Parsons Corporation $PSN

Lombard Odier Asset Management USA Corp purchased a new stake in shares of Parsons Corporation (NYSE:PSN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 23,162 shares of the company’s stock, valued at approximately $1,921,000.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in Parsons by 10.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,412 shares of the company’s stock valued at $117,000 after purchasing an additional 135 shares during the period. Thomas Story & Son LLC increased its position in shares of Parsons by 5.7% during the 3rd quarter. Thomas Story & Son LLC now owns 3,035 shares of the company’s stock valued at $252,000 after purchasing an additional 165 shares during the last quarter. CI Investments Inc. raised its stake in shares of Parsons by 32.5% during the 3rd quarter. CI Investments Inc. now owns 852 shares of the company’s stock worth $71,000 after purchasing an additional 209 shares during the period. NewEdge Advisors LLC raised its stake in shares of Parsons by 38.0% during the 1st quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after purchasing an additional 264 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Parsons by 4.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,156 shares of the company’s stock worth $510,000 after buying an additional 278 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PSN. Truist Financial restated a “buy” rating and set a $85.00 price target (down from $90.00) on shares of Parsons in a research report on Thursday, February 12th. Robert W. Baird lowered their price objective on shares of Parsons from $100.00 to $82.00 and set an “outperform” rating on the stock in a research report on Monday, December 8th. Stifel Nicolaus dropped their target price on shares of Parsons from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, December 23rd. Jefferies Financial Group reissued a “hold” rating on shares of Parsons in a research report on Thursday, January 15th. Finally, Barclays raised their price target on shares of Parsons from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Parsons has an average rating of “Moderate Buy” and a consensus target price of $83.42.

Parsons Trading Down 4.3%

Shares of PSN opened at $52.57 on Tuesday. Parsons Corporation has a fifty-two week low of $52.37 and a fifty-two week high of $89.50. The business has a 50-day moving average of $66.59 and a 200 day moving average of $73.87. The firm has a market cap of $5.56 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 1.72 and a beta of 0.68. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.75 and a current ratio of 1.75.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.06). The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Parsons had a net margin of 3.79% and a return on equity of 11.81%. Parsons’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. As a group, research analysts forecast that Parsons Corporation will post 3.58 EPS 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.