Parsons Corporation secured a $22 million contract amendment for I-605 multimodal improvements in Los Angeles, enhancing traffic flow and safety.
Quiver AI Summary
Parsons Corporation has announced that the Los Angeles County Metropolitan Transportation Authority (Metro) has awarded a $22 million contract amendment for improvements along the I-605 corridor, extending Parsons' existing contract by 3.5 years. This project, aligned with Metro's Multimodal Highway Investment Objectives, aims to enhance transportation options by adding bicycle lanes, improving sidewalks, and increasing transit access while also implementing managed lanes and improving freeway ramp connectivity to alleviate congestion. Mark Fialkowski of Parsons emphasized the company's longstanding partnership with Metro and the importance of the improvements for community safety and mobility. The project is a collaboration with Caltrans and the Gateway Cities Corridor Council of Governments, targeting reduced traffic and improved commute times for residents and visitors.
Potential Positives
- Parsons Corporation has secured a significant $22 million contract amendment from the Los Angeles County Metropolitan Transportation Authority, indicating strong business relationships and confidence in their capabilities.
- The contract extension for 3.5 years demonstrates Parsons' ongoing commitment to multimodal improvements, enhancing their reputation as a trusted partner in substantial infrastructure projects.
- This project addresses critical community needs by improving safety, traffic flow, and commute times in a highly congested area, positioning Parsons as a leader in effective urban infrastructure solutions.
Potential Negatives
- The press release focuses on a contract amendment rather than a new contract, which may indicate that new business opportunities are limited or that existing projects are facing delays.
- The mention of high levels of congestion in the I-605 corridor may highlight ongoing issues that the company is addressing, which could reflect negatively on past performance or project delivery timelines.
- Although Parsons is described as a trusted partner, the need for significant multimodal improvements suggests past infrastructure solutions may not have met current demands, potentially undermining confidence in the company's previous efforts.
FAQ
What is the recent contract awarded to Parsons Corporation?
Parsons Corporation was awarded a $22 million contract amendment for multimodal improvements along the I-605 corridor in Los Angeles.
How long is the contract extension for Parsons Corporation?
The contract extension for Parsons Corporation is for 3.5 years.
What improvements are included in the I-605 corridor project?
The project includes adding bicycle lanes, improving sidewalks, enhancing transit access, and providing managed lanes.
Who is partnering with Parsons on this project?
The project is a partnership with Caltrans and the Gateway Cities Corridor Council of Governments.
How long has Parsons Corporation been working with Metro?
Parsons Corporation has been a trusted partner of Metro for over 20 years.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PSN Insider Trading Activity
$PSN insiders have traded $PSN stock on the open market 3 times in the past 6 months. Of those trades, 3 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $PSN stock by insiders over the last 6 months:
- MARK KEITH HOLDSWORTH has made 2 purchases buying 10,000 shares for an estimated $512,673 and 0 sales.
- GEORGE L. BALL purchased 10,000 shares for an estimated $500,000
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$PSN Revenue
$PSN had revenues of $1.5B in Q1 2026. This is a decrease of -4.06% from the same period in the prior year.
You can track PSN financials on Quiver Quantitative's PSN stock page.
You can access data on PSN stock through the Quiver Quantitative API.
$PSN Hedge Fund Activity
We have seen 160 institutional investors add shares of $PSN stock to their portfolio, and 267 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WELLINGTON MANAGEMENT GROUP LLP added 2,505,359 shares (+364.4%) to their portfolio in Q1 2026, for an estimated $135,715,297
- ARTISAN PARTNERS LIMITED PARTNERSHIP removed 2,377,612 shares (-96.0%) from their portfolio in Q1 2026, for an estimated $128,795,242
- JPMORGAN CHASE & CO removed 1,707,696 shares (-93.6%) from their portfolio in Q4 2025, for an estimated $105,535,612
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 1,703,025 shares (-73.4%) from their portfolio in Q4 2025, for an estimated $105,246,945
- SWEDBANK AB added 1,335,102 shares (+126.8%) to their portfolio in Q1 2026, for an estimated $72,322,475
- FMR LLC removed 1,331,539 shares (-57.4%) from their portfolio in Q1 2026, for an estimated $72,129,467
- FIL LTD removed 913,685 shares (-76.2%) from their portfolio in Q1 2026, for an estimated $49,494,316
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
$PSN Analyst Ratings
Wall Street analysts have issued reports on $PSN in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Citigroup issued a "Buy" rating on 01/13/2026
- B of A Securities issued a "Buy" rating on 12/30/2025
To track analyst ratings and price targets for $PSN, check out Quiver Quantitative's $PSN forecast page.
$PSN Price Targets
Multiple analysts have issued price targets for $PSN recently. We have seen 8 analysts offer price targets for $PSN in the last 6 months, with a median target of $74.0.
Here are some recent targets:
- John Godyn from Citigroup set a target price of $65.0 on 04/30/2026
- Tobey Sommer from Truist Securities set a target price of $75.0 on 04/20/2026
- Andrew Wittmann from Baird set a target price of $60.0 on 04/13/2026
- Adam Seiden from Barclays set a target price of $70.0 on 03/31/2026
- Sangita Jain from Keybanc set a target price of $73.0 on 02/12/2026
- Gavin Parsons from UBS set a target price of $95.0 on 02/12/2026
- Ronald Epstein from B of A Securities set a target price of $90.0 on 12/30/2025
Full Release
CHANTILLY, Va., June 11, 2026 (GLOBE NEWSWIRE) --
Parsons Corporation
(NYSE: PSN) announced today that Los Angeles County Metropolitan Transportation Authority (Metro) has awarded a $22 million contract amendment for multimodal improvements along the I-605 corridor in Los Angeles, which extends Parsons’ existing contract for 3.5-years. These improvements are part of the Metro’s Board adopted Multimodal Highway Investment
Objectives, which will add bicycle lanes, improve sidewalks, and enhance transit access for the community. It will also provide managed lanes on I-605 and improve connectivity between freeway ramps and local streets to reduce traffic.
“For over 20 years, Parsons has long been a trusted partner to Metro and the people of Los Angeles, helping them navigate the state – and world – seamlessly,” said Mark Fialkowski, president, Infrastructure North America for Parsons. “These improvements will make it possible for residents and visitors to safely and efficiently travel the corridor regardless of their mode of transportation, highlighting Parsons’ breadth of experience delivering on complex, integrated multimodal projects.”
The I-605 Corridor improvements is a partnership with Caltrans and the Gateway Cites Corridor Council of Governments. The I-605 corridor experiences high levels of congestion and these multimodal improvements will enhance safety, increase traffic flow, and improve commute times. As part of Metro’s commitment to increasing mobility and moving people efficiently across the corridor, the project will also utilize managed lane solutions for further efficiency.
Parsons has more than half a century of experience designing, delivering, and protecting the infrastructure that connects our communities around the world, including roads and highways; bridges; passenger and freight rail; public transit; airports; and ports and waterways. Our experience includes more than 10,000 miles of roadways, 4,500 bridges, and more than 50 advanced traffic management system deployments that help cities and states improve safety and travel efficiency while also reducing emissions and energy costs to enhance the quality of life in the communities we serve.
To learn more about Parsons’ road and highway solutions, visit parsons.com/road-highway/ .
About Parsons
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit
Parsons.com
and follow us on
LinkedIn
to learn how we’re making an impact.
Media Contact:
Bernadette Miller
+1 980.253.9781
[email protected]
Investor Relations Contact:
Dave Spille
+ 1 703.775.6191
[email protected]
