Osaic Holdings Inc. Sells 11,340 Shares of Parsons Corporation $PSN

Osaic Holdings Inc. reduced its holdings in shares of Parsons Corporation (NYSE:PSN) by 33.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,308 shares of the company’s stock after selling 11,340 shares during the quarter. Osaic Holdings Inc.’s holdings in Parsons were worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PSN. Banque Transatlantique SA purchased a new position in Parsons during the first quarter valued at $34,000. True Wealth Design LLC boosted its holdings in shares of Parsons by 63.9% during the 2nd quarter. True Wealth Design LLC now owns 485 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Parsons by 38.0% during the first quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock valued at $57,000 after purchasing an additional 264 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Parsons by 176.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 828 shares of the company’s stock worth $59,000 after purchasing an additional 528 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Parsons by 433.9% in the first quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock worth $75,000 after purchasing an additional 1,024 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial cut their price target on Parsons from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Parsons in a report on Monday. Barclays started coverage on shares of Parsons in a research report on Friday, December 19th. They issued an “overweight” rating and a $70.00 price target on the stock. KeyCorp lowered their price objective on shares of Parsons from $93.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, December 8th. Finally, Jefferies Financial Group reduced their target price on shares of Parsons from $90.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.08.

Parsons Trading Down 0.7%

PSN stock opened at $62.26 on Wednesday. Parsons Corporation has a twelve month low of $54.56 and a twelve month high of $97.91. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 3.25 and a beta of 0.65. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.46. The firm’s fifty day simple moving average is $76.07 and its two-hundred day simple moving average is $77.18.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.74 by $0.12. Parsons had a net margin of 3.69% and a return on equity of 11.98%. The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the firm posted $0.95 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. As a group, analysts anticipate that Parsons Corporation will post 3.58 earnings per share for the current 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.