Natixis Makes New Investment in Parsons Co. (NYSE:PSN)

Natixis bought a new position in Parsons Co. (NYSE:PSN) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 11,851 shares of the company’s stock, valued at approximately $983,000.

Other institutional investors have also bought and sold shares of the company. Private Advisor Group LLC raised its position in shares of Parsons by 3.7% during the 4th quarter. Private Advisor Group LLC now owns 4,857 shares of the company’s stock valued at $305,000 after buying an additional 174 shares during the period. Jennison Associates LLC raised its position in shares of Parsons by 1.6% during the 4th quarter. Jennison Associates LLC now owns 15,151 shares of the company’s stock valued at $950,000 after buying an additional 239 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Parsons by 2.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,992 shares of the company’s stock valued at $1,161,000 after buying an additional 311 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Parsons by 7.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,733 shares of the company’s stock valued at $297,000 after buying an additional 327 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in shares of Parsons by 2.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 22,997 shares of the company’s stock valued at $1,908,000 after buying an additional 509 shares during the period. 98.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on PSN shares. The Goldman Sachs Group lifted their target price on shares of Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Parsons in a research note on Thursday, April 4th. Truist Financial boosted their price target on shares of Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Robert W. Baird boosted their price target on shares of Parsons from $85.00 to $89.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus boosted their target price on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $85.50.

Parsons Stock Performance

PSN traded up $0.18 on Friday, reaching $77.93. The company had a trading volume of 12,081 shares, compared to its average volume of 850,829. Parsons Co. has a 1 year low of $47.23 and a 1 year high of $85.44. The stock has a market capitalization of $11.44 billion, a PE ratio of 432.02, a P/E/G ratio of 2.31 and a beta of 0.81. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $77.95 and a 200-day moving average price of $76.51.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Parsons had a net margin of 0.49% and a return on equity of 11.27%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.37 billion. As a group, research analysts forecast that Parsons Co. will post 2.61 EPS for the current fiscal year.

Parsons Profile

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.