Highlander Partners L.P. Invests $8.76 Million in Parsons Corporation $PSN

Highlander Partners L.P. purchased a new position in shares of Parsons Corporation (NYSE:PSN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 122,000 shares of the company’s stock, valued at approximately $8,756,000. Parsons makes up 3.4% of Highlander Partners L.P.’s portfolio, making the stock its 11th largest position. Highlander Partners L.P. owned about 0.11% of Parsons as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Groupama Asset Managment bought a new stake in Parsons during the first quarter worth $136,183,000. William Blair Investment Management LLC raised its holdings in shares of Parsons by 72.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,889,281 shares of the company’s stock worth $135,594,000 after buying an additional 793,807 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Parsons by 53.8% during the 1st quarter. Mackenzie Financial Corp now owns 1,084,288 shares of the company’s stock worth $64,201,000 after buying an additional 379,254 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Parsons by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company’s stock worth $293,226,000 after buying an additional 376,764 shares during the last quarter. Finally, Primecap Management Co. CA acquired a new stake in Parsons in the first quarter valued at about $19,824,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PSN. Baird R W raised Parsons from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Truist Financial lifted their price target on shares of Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Robert W. Baird increased their price objective on shares of Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. KeyCorp raised their target price on shares of Parsons from $87.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Zacks Research upgraded shares of Parsons from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.40.

Parsons Price Performance

PSN stock opened at $82.91 on Thursday. The company has a market capitalization of $8.85 billion, a P/E ratio of 37.01, a PEG ratio of 4.18 and a beta of 0.62. The company has a fifty day moving average price of $81.86 and a 200-day moving average price of $75.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.61 and a current ratio of 1.61. Parsons Corporation has a 52-week low of $54.56 and a 52-week high of $114.68.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Parsons had a return on equity of 12.36% and a net margin of 3.70%.The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 earnings per share. As a group, equities analysts expect that Parsons Corporation will post 3.58 EPS for the current year.

Parsons Company Profile

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.