CHURCHILL MANAGEMENT Corp Sells 272 Shares of Parsons Co. (NYSE:PSN)

CHURCHILL MANAGEMENT Corp lowered its position in Parsons Co. (NYSE:PSN) by 0.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,427 shares of the company’s stock after selling 272 shares during the period. CHURCHILL MANAGEMENT Corp owned 0.06% of Parsons worth $5,593,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PSN. Rhumbline Advisers increased its position in Parsons by 5.8% during the 3rd quarter. Rhumbline Advisers now owns 74,772 shares of the company’s stock valued at $4,064,000 after buying an additional 4,131 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Parsons during the 3rd quarter valued at approximately $38,000. PNC Financial Services Group Inc. increased its position in Parsons by 53.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,471 shares of the company’s stock valued at $243,000 after buying an additional 1,566 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Parsons by 170.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 166,192 shares of the company’s stock valued at $9,033,000 after buying an additional 104,765 shares in the last quarter. Finally, EAM Investors LLC bought a new position in Parsons during the 3rd quarter valued at approximately $1,802,000. Institutional investors own 98.02% of the company’s stock.

Analysts Set New Price Targets

PSN has been the subject of a number of analyst reports. KeyCorp raised their price objective on Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Truist Financial lifted their target price on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Raymond James raised Parsons from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $82.00 to $95.00 in a report on Wednesday, May 1st. The Goldman Sachs Group lifted their target price on Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Parsons in a report on Thursday, April 4th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Parsons has an average rating of “Buy” and a consensus target price of $83.10.

Parsons Stock Performance

PSN stock opened at $78.09 on Friday. The company has a market cap of $11.46 billion, a P/E ratio of 433.86, a price-to-earnings-growth ratio of 2.31 and a beta of 0.84. Parsons Co. has a 1 year low of $46.68 and a 1 year high of $85.44. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The stock’s fifty day moving average price is $77.40 and its 200-day moving average price is $73.81.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.37 billion. Parsons had a return on equity of 11.27% and a net margin of 0.49%. On average, equities analysts forecast that Parsons Co. will post 2.63 earnings per share for the current year.

About Parsons

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.