Benin Management CORP boosted its stake in Parsons Corp (NYSE:PSN) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,720 shares of the company’s stock after purchasing an additional 1,920 shares during the quarter. Benin Management CORP’s holdings in Parsons were worth $732,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada purchased a new stake in Parsons during the second quarter worth approximately $34,000. US Bancorp DE purchased a new stake in Parsons during the second quarter worth approximately $50,000. Meeder Asset Management Inc. purchased a new stake in Parsons during the third quarter worth approximately $51,000. New York State Teachers Retirement System purchased a new stake in Parsons during the third quarter worth approximately $53,000. Finally, Bank of Montreal Can purchased a new stake in Parsons during the second quarter worth approximately $57,000. Hedge funds and other institutional investors own 99.94% of the company’s stock.
Several research firms have issued reports on PSN. Stifel Nicolaus began coverage on shares of Parsons in a research note on Tuesday, December 10th. They set a “hold” rating and a $44.00 price objective for the company. ValuEngine downgraded shares of Parsons from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Zacks Investment Research downgraded shares of Parsons from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Cowen reiterated a “buy” rating and set a $40.00 price objective on shares of Parsons in a research note on Friday, November 15th. Finally, SunTrust Banks boosted their price objective on shares of Parsons to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $41.38.
Parsons (NYSE:PSN) last announced its earnings results on Tuesday, November 12th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.15. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Parsons had a net margin of 2.97% and a negative return on equity of 11.53%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 earnings per share. On average, research analysts predict that Parsons Corp will post 1.61 EPS for the current year.
Parsons Company Profile
Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates in two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity software and engineering services, hardware prototyping, and other technical services to the U.S.
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