Groupama Asset Managment Sells 1,700,000 Shares of Parsons Corporation $PSN

Groupama Asset Managment lessened its stake in Parsons Corporation (NYSE:PSN) by 73.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 600,000 shares of the company’s stock after selling 1,700,000 shares during the period. Groupama Asset Managment owned about 0.56% of Parsons worth $49,752,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PSN. Mather Group LLC. bought a new position in Parsons during the third quarter valued at about $25,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Parsons in the 3rd quarter worth approximately $40,000. Penserra Capital Management LLC acquired a new stake in shares of Parsons during the 3rd quarter worth approximately $59,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Parsons by 176.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 828 shares of the company’s stock worth $59,000 after purchasing an additional 528 shares in the last quarter. Finally, CI Investments Inc. increased its position in shares of Parsons by 32.5% during the third quarter. CI Investments Inc. now owns 852 shares of the company’s stock valued at $71,000 after purchasing an additional 209 shares during the period. 98.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup upped their target price on Parsons from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Truist Financial reissued a “buy” rating and issued a $85.00 price target (down from $90.00) on shares of Parsons in a report on Thursday, February 12th. UBS Group dropped their price objective on shares of Parsons from $104.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a report on Thursday, November 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Parsons in a research report on Monday, December 29th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Parsons has a consensus rating of “Moderate Buy” and an average price target of $83.42.

Parsons Price Performance

Shares of PSN stock opened at $51.11 on Thursday. The stock’s fifty day simple moving average is $66.07 and its 200 day simple moving average is $73.53. Parsons Corporation has a one year low of $51.07 and a one year high of $89.50. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 23.23, a P/E/G ratio of 1.69 and a beta of 0.68. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.75 and a quick ratio of 1.75.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.06). The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.68 billion. Parsons had a return on equity of 11.81% and a net margin of 3.79%.The business’s revenue was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 earnings per share. On average, analysts expect that Parsons Corporation will post 3.58 earnings per share for the current fiscal year.

Parsons 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.