Amalgamated Bank Has $2.31 Million Stake in Parsons Co. (NYSE:PSN)

Amalgamated Bank increased its stake in Parsons Co. (NYSE:PSN - Free Report) by 193.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,251 shares of the company's stock after acquiring an additional 14,658 shares during the period. Amalgamated Bank's holdings in Parsons were worth $2,307,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. AE Wealth Management LLC raised its stake in shares of Parsons by 2.7% during the 2nd quarter. AE Wealth Management LLC now owns 5,763 shares of the company's stock worth $471,000 after purchasing an additional 150 shares in the last quarter. EntryPoint Capital LLC raised its stake in Parsons by 17.2% in the first quarter. EntryPoint Capital LLC now owns 1,334 shares of the company's stock worth $111,000 after buying an additional 196 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Parsons by 23.6% in the second quarter. Blue Trust Inc. now owns 1,041 shares of the company's stock worth $86,000 after acquiring an additional 199 shares in the last quarter. Certified Advisory Corp lifted its stake in shares of Parsons by 6.2% during the second quarter. Certified Advisory Corp now owns 4,743 shares of the company's stock valued at $388,000 after buying an additional 278 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew 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 worth $1,161,000 after purchasing an additional 311 shares during the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Stock Down 0.5 %

Shares of PSN stock traded down $0.53 during trading hours on Tuesday, hitting $112.78. 247,601 shares of the company's stock traded hands, compared to its average volume of 886,530. Parsons Co. has a 12-month low of $61.10 and a 12-month high of $114.68. The stock's fifty day simple moving average is $103.81 and its two-hundred day simple moving average is $89.55. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock has a market cap of $11.98 billion, a price-to-earnings ratio of 171.82, a PEG ratio of 2.32 and a beta of 0.80.

Parsons (NYSE:PSN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. On average, analysts expect that Parsons Co. will post 3.02 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on PSN. KeyCorp raised their price target on shares of Parsons from $116.00 to $122.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Truist Financial restated a "buy" rating and issued a $108.00 target price (up previously from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Robert W. Baird raised their price objective on Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Raymond James cut shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price objective for the company. in a research note on Wednesday, October 23rd. Finally, Benchmark boosted their target price on shares of Parsons from $68.00 to $101.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Parsons presently has a consensus rating of "Moderate Buy" and an average target price of $102.11.

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.