Polar Asset Management Partners Inc. Makes New Investment in Parsons Co. (NYSE:PSN)

Polar Asset Management Partners Inc. acquired a new position in Parsons Co. (NYSE:PSN - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,500 shares of the company's stock, valued at approximately $3,784,000.

Several other large investors also recently made changes to their positions in PSN. True Wealth Design LLC acquired a new stake in shares of Parsons in the third quarter valued at approximately $30,000. V Square Quantitative Management LLC bought a new stake in shares of Parsons during the third quarter worth $33,000. Capital Performance Advisors LLP bought a new stake in shares of Parsons during the third quarter worth $45,000. Tanglewood Legacy Advisors LLC acquired a new position in shares of Parsons during the second quarter valued at $44,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Parsons in the third quarter valued at about $72,000. Institutional investors own 98.02% of the company's stock.

Analyst Ratings Changes

PSN has been the subject of several recent research reports. Robert W. Baird boosted their price objective on Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Truist Financial dropped their price target on shares of Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. KeyCorp lifted their target price on shares of Parsons from $116.00 to $122.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Finally, Raymond James downgraded Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price target on the stock. in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $105.13.

Parsons Trading Down 0.2 %

Shares of NYSE PSN traded down $0.17 during midday trading on Thursday, reaching $98.88. 948,641 shares of the stock were exchanged, compared to its average volume of 907,102. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. Parsons Co. has a 12 month low of $61.10 and a 12 month high of $114.68. The business has a 50-day simple moving average of $104.21 and a two-hundred day simple moving average of $91.98. The company has a market capitalization of $10.50 billion, a price-to-earnings ratio of 149.82, a P/E/G ratio of 1.69 and a beta of 0.74.

Parsons (NYSE:PSN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.63 billion. As a group, equities research analysts expect that Parsons Co. will post 3.02 EPS for the current year.

About Parsons

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.