Citigroup Rates Parsons (PSN) buy, $66 Price Target

On July 1, 2026, Citigroup reiterated its buy rating on PSN, setting a price target of $66. This reflects continued confidence in the company's prospects, with shares trading near $52.39 on Wednesday.

Other Institutional Activity in PSN

Several institutional investors have adjusted their positions in PSN. Newport Trust Company, LLC increased its holdings by 342,573 shares, now holding over 50.1 million shares valued at around $2.72 billion, marking a 0.7% increase. BlackRock, Inc. added 449,178 shares, bringing its total to approximately 5.3 million shares worth $287.9 million, a 9.2% increase. Wellington Management Group LLP significantly boosted its stake by 2,505,359 shares, resulting in a total of about 3.2 million shares valued at $172.9 million, a 364.4% increase. Morgan Stanley, however, reduced its holdings by 284,203 shares, now holding around 2.6 million shares valued at $138.9 million, representing a 10% decrease. Meanwhile, Vanguard Capital Management LLC opened a new position with 2,401,668 shares valued at approximately $130.1 million.

Parsons Corporation Stock Up 16.9%

Shares of PSN traded near $52.39 on Wednesday. The company's stock has been active, with various institutional investors making changes to their positions. The activity in the stock reflects its current attractiveness to investors, supported by analyst ratings like Citigroup's recent reiteration of a buy rating.

Insider Buying and Selling at Parsons Corporation

Recent insider activity at PSN includes several notable purchases. On May 13, 2026, George Ball bought 10,000 shares at $50 each. On May 12, Mark Keith Holdsworth acquired 10,000 shares at approximately $51.27 per share. Harry McMahon purchased 10,000 shares at $49.14 on May 11. Additionally, Carey Smith, President & CEO, bought 12,500 shares at roughly $49.97 each on May 8. Earlier, on April 14, Christian Mitchell and Letitia Long each acquired 2,947 shares.

Analysts Set New Price Targets

On July 1, 2026, Citigroup maintained its buy rating on PSN, setting a price target of $66. This follows previous targets set by Citigroup at $65 on April 30, 2026, and $70 on April 2, 2026. Truist Securities also maintained a buy rating with a $75 target on April 20, 2026. The consensus among analysts remains positive, with a buy recommendation and an average target price reflecting optimistic expectations for PSN's future performance.

Bottom Line

Citigroup's reaffirmation of its buy rating on PSN with a $66 target underscores continued confidence in the stock's potential. Investors are closely watching PSN as institutional activity and insider buying suggest ongoing interest. While analyst ratings provide a favorable outlook, it's important to remember that these are backward-looking assessments and may not fully capture current market dynamics.