Syntegra Private Wealth Group LLC Invests $224,000 in Parsons Co. (NYSE:PSN)

Syntegra Private Wealth Group LLC purchased a new position in Parsons Co. (NYSE:PSN) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,159 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors also recently made changes to their positions in the stock. Wedge Capital Management L L P NC acquired a new stake in Parsons during the third quarter valued at approximately $62,514,000. Allspring Global Investments Holdings LLC lifted its stake in Parsons by 61.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after purchasing an additional 428,662 shares during the last quarter. Vanguard Group Inc. lifted its stake in Parsons by 10.2% during the first quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock valued at $376,997,000 after purchasing an additional 421,085 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in Parsons during the second quarter valued at approximately $29,302,000. Finally, Appian Way Asset Management LP lifted its stake in Parsons by 649.9% during the second quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock valued at $32,303,000 after purchasing an additional 342,200 shares during the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PSN shares. Stifel Nicolaus increased their target price on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Robert W. Baird increased their target price on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Truist Financial restated a “buy” rating and set a $108.00 price target (up previously from $100.00) on shares of Parsons in a report on Thursday, August 1st. Benchmark boosted their price target on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Raymond James lowered shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target on the stock. in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Parsons Stock Down 0.6 %

Parsons stock traded down $0.67 during trading hours on Wednesday, hitting $106.75. The company had a trading volume of 76,519 shares, compared to its average volume of 885,887. The firm has a market capitalization of $11.33 billion, a P/E ratio of 249.82, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. The firm’s fifty day moving average is $99.89 and its 200-day moving average is $86.70. Parsons Co. has a fifty-two week low of $55.22 and a fifty-two week high of $109.55.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.59 by $0.18. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.53 billion. On average, research analysts forecast that Parsons Co. will post 2.88 earnings per share for the current 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.