Parsons (NYSE:PSN) Director Mark Keith Holdsworth Purchases 10,000 Shares

Parsons Corporation (NYSE:PSN) Director Mark Keith Holdsworth acquired 10,000 shares of Parsons stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $51.27 per share, for a total transaction of $512,700.00. Following the completion of the transaction, the director owned 39,918 shares in the company, valued at approximately $2,046,595.86. This trade represents a 33.42% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Parsons Trading Down 4.3%

Parsons stock traded down $2.29 during mid-day trading on Wednesday, reaching $50.42. 1,437,827 shares of the company traded hands, compared to its average volume of 1,288,649. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.75. The firm’s 50 day moving average price is $55.15 and its 200 day moving average price is $66.09. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 1.55 and a beta of 0.60. Parsons Corporation has a 52-week low of $48.23 and a 52-week high of $89.50.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. Parsons had a net margin of 3.62% and a return on equity of 11.52%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. On average, analysts anticipate that Parsons Corporation will post 2.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Parsons in a research report on Friday, March 27th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Parsons in a research report on Sunday, May 3rd. Citigroup reduced their target price on shares of Parsons from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Robert W. Baird reaffirmed a “neutral” rating and issued a $60.00 target price on shares of Parsons in a research report on Monday, April 13th. Finally, KeyCorp downgraded shares of Parsons from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 14th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.17.

Hedge Funds Weigh In On Parsons

Hedge funds have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in Parsons in the 4th quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Parsons in the 3rd quarter worth about $40,000. Danske Bank A S bought a new position in Parsons in the 4th quarter worth about $31,000. Los Angeles Capital Management LLC bought a new position in Parsons in the 4th quarter worth about $32,000. Finally, ST Germain D J Co. Inc. bought a new position in Parsons during the 4th quarter valued at about $41,000. Institutional investors own 98.02% of the company’s stock.

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.