CHURCHILL MANAGEMENT Corp Sells 924 Shares of Parsons Co. (NYSE:PSN)

CHURCHILL MANAGEMENT Corp reduced its holdings in Parsons Co. (NYSE:PSN) by 1.4% in the 4th quarter, HoldingsChannel reports. The fund owned 64,244 shares of the company’s stock after selling 924 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Parsons were worth $5,927,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PSN. Oppenheimer & Co. Inc. increased its holdings in Parsons by 36.0% in the second quarter. Oppenheimer & Co. Inc. now owns 17,439 shares of the company’s stock worth $1,427,000 after purchasing an additional 4,614 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Parsons by 2.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 32,544 shares of the company’s stock valued at $2,662,000 after acquiring an additional 867 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Parsons by 12.6% during the 2nd quarter. Renaissance Technologies LLC now owns 412,100 shares of the company’s stock valued at $33,714,000 after acquiring an additional 46,000 shares during the period. Axxcess Wealth Management LLC boosted its stake in Parsons by 5.0% during the second quarter. Axxcess Wealth Management LLC now owns 8,855 shares of the company’s stock worth $724,000 after acquiring an additional 422 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Parsons by 9.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 5,439 shares of the company’s stock worth $445,000 after purchasing an additional 452 shares during the period. 98.02% of the stock is owned by institutional investors.

Parsons Stock Performance

Shares of PSN opened at $95.38 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market cap of $10.13 billion, a PE ratio of 144.52, a PEG ratio of 1.38 and a beta of 0.74. Parsons Co. has a 1 year low of $64.33 and a 1 year high of $114.68. The stock’s fifty day moving average price is $96.79 and its two-hundred day moving average price is $95.46.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.73 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. On average, equities research analysts forecast that Parsons Co. will post 3.02 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. TD Cowen dropped their price objective on shares of Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Truist Financial lowered their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.25.

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.