Gradient Investments LLC lessened its stake in shares of Parsons Co. (NYSE:PSN – Get Rating) by 7.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,642 shares of the company’s stock after selling 834 shares during the period. Gradient Investments LLC’s holdings in Parsons were worth $430,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Amalgamated Bank bought a new stake in Parsons during the first quarter worth about $123,000. Quantbot Technologies LP bought a new stake in Parsons during the first quarter worth about $109,000. Guggenheim Capital LLC raised its holdings in Parsons by 1.8% during the first quarter. Guggenheim Capital LLC now owns 15,193 shares of the company’s stock worth $588,000 after acquiring an additional 269 shares in the last quarter. Graham Capital Management L.P. bought a new stake in Parsons during the first quarter worth about $434,000. Finally, Renaissance Technologies LLC raised its stake in Parsons by 114.9% in the first quarter. Renaissance Technologies LLC now owns 21,700 shares of the company’s stock valued at $840,000 after buying an additional 11,600 shares during the period. Institutional investors own 99.22% of the company’s stock.
Parsons Stock Up 2.2 %
PSN opened at $41.70 on Tuesday. Parsons Co. has a fifty-two week low of $29.25 and a fifty-two week high of $43.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $4.32 billion, a P/E ratio of 52.13, a P/E/G ratio of 1.94 and a beta of 0.83. The stock has a fifty day moving average of $41.77 and a 200-day moving average of $39.58.
Parsons (NYSE:PSN – Get Rating) last posted its earnings results on Wednesday, August 3rd. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Parsons had a return on equity of 9.05% and a net margin of 2.26%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $930.97 million. During the same quarter last year, the firm earned $0.29 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts expect that Parsons Co. will post 1.71 EPS for the current year. Insider Transactions at Parsons
In other news, CFO George L. Ball bought 70,000 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was bought at an average price of $41.50 per share, with a total value of $2,905,000.00. Following the completion of the acquisition, the chief financial officer now owns 122,857 shares of the company’s stock, valued at $5,098,565.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.