Mackenzie Financial Corp Has $109.93 Million Stock Holdings in Parsons Co. (NYSE:PSN)

Mackenzie Financial Corp trimmed its holdings in Parsons Co. (NYSE:PSN) by 29.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,752,946 shares of the company’s stock after selling 739,929 shares during the quarter. Mackenzie Financial Corp owned about 1.67% of Parsons worth $109,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James & Associates boosted its holdings in Parsons by 36.5% in the first quarter. Raymond James & Associates now owns 15,876 shares of the company’s stock worth $614,000 after acquiring an additional 4,243 shares in the last quarter. Group One Trading L.P. bought a new position in Parsons in the first quarter worth approximately $27,000. HighTower Advisors LLC bought a new position in Parsons in the first quarter worth approximately $242,000. MetLife Investment Management LLC boosted its holdings in Parsons by 54.2% in the first quarter. MetLife Investment Management LLC now owns 15,664 shares of the company’s stock worth $606,000 after acquiring an additional 5,504 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Parsons by 45.4% in the first quarter. Dimensional Fund Advisors LP now owns 693,177 shares of the company’s stock worth $26,827,000 after acquiring an additional 216,326 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Stock Performance

Shares of PSN opened at $78.91 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 55.57, a PEG ratio of 3.60 and a beta of 0.85. The stock has a 50 day moving average of $79.08 and a 200 day moving average of $67.77. Parsons Co. has a 12 month low of $42.22 and a 12 month high of $85.44.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.33 billion. Parsons had a return on equity of 10.32% and a net margin of 2.96%. Parsons’s revenue was up 36.4% on a year-over-year basis. During the same period last year, the business posted $0.45 earnings per share. As a group, sell-side analysts forecast that Parsons Co. will post 2.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. KeyCorp increased their price target on Parsons from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Robert W. Baird increased their price target on Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Parsons in a report on Thursday, April 4th. Truist Financial raised their target price on Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group raised their target price on Parsons from $65.00 to $73.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.89.

About Parsons

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.