Parsons Corporation $PSN Shares Purchased by Sunbelt Securities Inc.

Sunbelt Securities Inc. grew its position in Parsons Corporation (NYSE:PSN) by 102,844.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,060 shares of the company’s stock after purchasing an additional 37,024 shares during the period. Sunbelt Securities Inc.’s holdings in Parsons were worth $2,290,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PSN. Aster Capital Management DIFC Ltd bought a new stake in shares of Parsons during the fourth quarter valued at approximately $25,000. Danske Bank A S bought a new position in Parsons in the 4th quarter worth approximately $31,000. Los Angeles Capital Management LLC acquired a new stake in Parsons in the 4th quarter valued at approximately $32,000. ST Germain D J Co. Inc. acquired a new stake in Parsons in the 4th quarter valued at approximately $41,000. Finally, Farther Finance Advisors LLC raised its stake in Parsons by 613.2% during the 4th quarter. Farther Finance Advisors LLC now owns 756 shares of the company’s stock valued at $47,000 after acquiring an additional 650 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analysts Set New Price Targets

PSN has been the subject of several recent analyst reports. Zacks Research raised Parsons from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Robert W. Baird restated a “neutral” rating and set a $60.00 price objective on shares of Parsons in a research note on Monday, April 13th. KeyCorp cut shares of Parsons from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 14th. BNP Paribas Exane set a $65.00 price objective on shares of Parsons and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Citigroup decreased their target price on shares of Parsons from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.92.

Parsons Trading Up 0.0%

Shares of Parsons stock opened at $52.23 on Friday. The business has a fifty day simple moving average of $54.50 and a 200-day simple moving average of $60.75. Parsons Corporation has a fifty-two week low of $48.23 and a fifty-two week high of $89.50. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.66 and a beta of 0.64. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.55.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, April 29th. The company reported $0.79 earnings per share (EPS) 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 firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $0.60 earnings per share. Parsons’s revenue was down 4.1% compared to the same quarter last year. On average, equities analysts forecast that Parsons Corporation will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Parsons news, CEO Carey A. Smith bought 12,500 shares of Parsons stock in a transaction that occurred on Friday, May 8th. The stock was purchased at an average cost of $49.97 per share, for a total transaction of $624,625.00. Following the completion of the acquisition, the chief executive officer owned 575,376 shares of the company’s stock, valued at approximately $28,751,538.72. This represents a 2.22% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Keith Holdsworth purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $51.27 per share, for a total transaction of $512,700.00. Following the transaction, the director owned 39,918 shares of the company’s stock, valued at $2,046,595.86. The trade was a 33.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 32,500 shares of company stock worth $1,637,325 in the last ninety days. 1.31% of the stock is currently owned by corporate insiders.

About Parsons

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.