Petra Financial Advisors Inc. trimmed its holdings in Parsons Co. (NYSE:PSN – Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,745 shares of the company’s stock after selling 397 shares during the quarter. Petra Financial Advisors Inc.’s holdings in Parsons were worth $907,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AE Wealth Management LLC lifted its holdings in shares of Parsons by 2.7% in the 2nd quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock valued at $471,000 after buying an additional 150 shares during the period. EntryPoint Capital LLC boosted its position in Parsons by 17.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after purchasing an additional 196 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after purchasing an additional 199 shares during the period. Certified Advisory Corp grew its stake in shares of Parsons by 6.2% during the 2nd quarter. Certified Advisory Corp now owns 4,743 shares of the company’s stock worth $388,000 after purchasing an additional 278 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Parsons by 2.3% in 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 purchasing an additional 311 shares during the period. 98.02% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently commented on PSN shares. KeyCorp raised their price target on shares of Parsons from $99.00 to $116.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Truist Financial restated 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, August 1st. Benchmark increased their price target on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird raised their price objective on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price for the company. in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Parsons presently has an average rating of “Moderate Buy” and an average price target of $101.44.
Parsons Price Performance
Shares of NYSE PSN traded down $0.01 during midday trading on Thursday, hitting $109.99. The stock had a trading volume of 120,344 shares, compared to its average volume of 889,924. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $101.29 and a 200-day simple moving average of $87.68. The company has a market capitalization of $16.14 billion, a PE ratio of 611.11, a P/E/G ratio of 2.24 and a beta of 0.80. Parsons Co. has a 1 year low of $56.04 and a 1 year high of $112.19.
Parsons (NYSE:PSN – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Parsons had a return on equity of 12.09% and a net margin of 0.89%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. On average, sell-side analysts expect that Parsons Co. will post 2.89 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.
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