First Hawaiian Bank Purchases 3,276 Shares of Parsons Co. (NYSE:PSN)

First Hawaiian Bank raised its position in shares of Parsons Co. (NYSE:PSN) by 14.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,646 shares of the company’s stock after buying an additional 3,276 shares during the quarter. First Hawaiian Bank’s holdings in Parsons were worth $2,180,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. TFO Wealth Partners LLC lifted its holdings in shares of Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after acquiring an additional 728 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Parsons during the 1st quarter valued at approximately $62,000. Psagot Value Holdings Ltd. Israel raised its holdings in Parsons by 700.0% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after buying an additional 973 shares during the period. EntryPoint Capital LLC raised its holdings in Parsons by 17.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock valued at $111,000 after buying an additional 196 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in Parsons in the fourth quarter worth $91,000. Institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PSN. Stifel Nicolaus raised their price target on Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Truist Financial reaffirmed a “buy” rating and issued a $108.00 price target (up previously from $100.00) on shares of Parsons in a research note on Thursday. Robert W. Baird boosted their price objective on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday. Raymond James raised shares of Parsons from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $82.00 to $95.00 in a research report on Wednesday, May 1st. Finally, KeyCorp boosted their price target on Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $91.70.

Parsons Trading Up 0.4 %

Shares of PSN traded up $0.34 during midday trading on Monday, reaching $89.16. The company had a trading volume of 1,222,112 shares, compared to its average volume of 896,883. Parsons Co. has a 1-year low of $53.56 and a 1-year high of $91.44. The stock has a market cap of $13.08 billion, a PE ratio of 495.08, a price-to-earnings-growth ratio of 2.58 and a beta of 0.81. The firm has a 50 day simple moving average of $78.66 and a 200-day simple moving average of $77.50. The company has a quick ratio of 1.79, a current ratio of 1.80 and a debt-to-equity ratio of 0.54.

Parsons Company 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.