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

Parsons Corporation (NYSE:PSN) Director Mark Keith Holdsworth bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price 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 $2,046,595.86. This trade represents a 33.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Parsons Stock Performance

Shares of PSN opened at $51.17 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.75. Parsons Corporation has a one year low of $48.23 and a one year high of $89.50. The stock has a 50-day moving average of $54.50 and a 200-day moving average of $65.62. The company has a market cap of $5.47 billion, a PE ratio of 24.48, a P/E/G ratio of 1.60 and a beta of 0.60.

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

Institutional Trading of Parsons

Institutional investors and hedge funds have recently modified their holdings of the company. Entropy Technologies LP bought a new stake in Parsons during the 1st quarter valued at approximately $1,405,000. Gabelli Funds LLC boosted its position in shares of Parsons by 16.7% during the first quarter. Gabelli Funds LLC now owns 17,500 shares of the company’s stock valued at $948,000 after buying an additional 2,500 shares during the period. First Trust Advisors LP grew its holdings in shares of Parsons by 0.7% in the first quarter. First Trust Advisors LP now owns 256,676 shares of the company’s stock worth $13,904,000 after purchasing an additional 1,737 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Parsons by 10.5% during the 1st 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 during the period. Finally, KBC Group NV lifted its stake in Parsons by 38.0% in the first quarter. KBC Group NV now owns 2,185 shares of the company’s stock worth $118,000 after acquiring an additional 602 shares during the period. 98.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of Parsons in a research report on Monday, April 13th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Parsons in a report on Sunday, May 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Parsons in a research note on Friday, March 27th. Zacks Research raised shares of Parsons from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, UBS Group lowered their price objective on Parsons from $104.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.17.

Parsons Company Profile

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.