Parsons Corporation $PSN Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its holdings in Parsons Corporation (NYSE:PSN) by 94.7% during the first quarter, HoldingsChannel reports. The fund owned 27,467 shares of the company’s stock after selling 492,905 shares during the period. Janus Henderson Group PLC’s holdings in Parsons were worth $1,488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Artisan Partners Limited Partnership boosted its holdings in Parsons by 6.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,477,159 shares of the company’s stock valued at $153,088,000 after purchasing an additional 145,238 shares in the last quarter. Swedbank AB increased its stake in Parsons by 126.8% in the first quarter. Swedbank AB now owns 2,387,643 shares of the company’s stock valued at $129,339,000 after purchasing an additional 1,335,102 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Parsons by 10.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,892,400 shares of the company’s stock worth $102,494,000 after purchasing an additional 179,463 shares in the last quarter. Channing Capital Management LLC raised its holdings in Parsons by 16.8% during the fourth quarter. Channing Capital Management LLC now owns 1,484,039 shares of the company’s stock worth $91,714,000 after purchasing an additional 213,312 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Parsons by 151.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock worth $75,173,000 after buying an additional 639,481 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Insider Buying and Selling at Parsons

In other news, Director Mark Keith Holdsworth acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $51.27 per share, for a total transaction of $512,700.00. Following the transaction, the director directly owned 39,918 shares in the company, valued at approximately $2,046,595.86. This represents a 33.42% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George L. Ball acquired 10,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $50.00 per share, for a total transaction of $500,000.00. Following the completion of the purchase, the director directly owned 150,383 shares in the company, valued at $7,519,150. This trade represents a 7.12% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.31% of the stock is owned by company insiders.

Parsons Stock Up 0.1%

PSN opened at $47.57 on Monday. The business has a 50 day moving average price of $54.18 and a two-hundred day moving average price of $57.19. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.54. The company has a market cap of $5.08 billion, a PE ratio of 32.81, a P/E/G ratio of 3.60 and a beta of 0.68. Parsons Corporation has a 52 week low of $36.26 and a 52 week high of $89.50.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, July 29th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.82). The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Parsons had a net margin of 2.50% and a return on equity of 8.10%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. As a group, research analysts anticipate that Parsons Corporation will post 2.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Parsons from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Sunday, August 2nd. BNP Paribas Exane set a $65.00 price objective on shares of Parsons and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Zacks Research lowered Parsons from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 5th. Robert W. Baird reiterated a “neutral” rating and set a $60.00 target price on shares of Parsons in a research report on Monday, April 13th. Finally, Stifel Nicolaus reduced their target price on Parsons from $79.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.33.

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.