Parsons Corporation (NYSE:PSN) stock rose Tuesday after the company secured multiple contracts tied to the replacement of the John A. Blatnik Bridge.

The stock outperformed the broader market, highlighting relative strength in the engineering and infrastructure company as the Nasdaq declined 1.32% and the S&P 500 lost 0.37%.

Parsons Wins Oversight Contracts

On Tuesday, Parsons said it was awarded design and construction oversight contracts for the estimated $1.1 billion to $1.4 billion John A. Blatnik Bridge replacement project by the Minnesota and Wisconsin Departments of Transportation.

The company previously completed the bridge’s preliminary engineering design and will continue supporting the project through the design-build phase. Construction is expected to begin in fall 2026, with the new bridge scheduled to open in 2031.

The existing bridge, built in 1961, carries about 33,900 vehicles daily on Interstate 535 between Duluth, Minnesota, and Superior, Wisconsin. Parsons said the replacement will improve traffic flow with a direct connection to U.S. 53 in Superior. During construction, traffic will be detoured to nearby U.S. Highway 2.

Technical Analysis

The stock also benefited from strength in industrial shares. The Industrials sector gained 1.13% while the Nasdaq fell 1.33%, giving PSN relative strength during a mixed trading session.

The longer-term trend remains mixed. Parsons is down 19.07% over the past 12 months and trades 17.4% below its 200-day simple moving average of $67.77. However, the stock sits 2.7% above its 50-day moving average of $54.53, although it remains 1.2% below its 20-day moving average of $56.69. That setup points to range-bound trading rather than a sustained breakout.

Momentum indicators also remain neutral. The relative strength index stands at 47.76, suggesting the stock is neither overbought nor oversold.

Key resistance is near $62. A move above that level could improve the technical outlook. Initial support sits around $48, close to the stock’s 52-week low of $48.23.

Price Action

PSN Stock Price Activity: Parsons shares were up 0.92% at $56.00 at the time of publication on Tuesday, according to Benzinga Pro data.

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