Aptus Capital Advisors LLC Takes $563,000 Position in Parsons Co. (NYSE:PSN)

Aptus Capital Advisors LLC acquired a new stake in shares of Parsons Co. (NYSE:PSN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,430 shares of the company's stock, valued at approximately $563,000.

Other large investors also recently bought and sold shares of the company. Aigen Investment Management LP acquired a new stake in shares of Parsons during the third quarter worth $1,004,000. Chartwell Investment Partners LLC lifted its holdings in Parsons by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company's stock worth $1,507,000 after acquiring an additional 117 shares during the last quarter. Peregrine Asset Advisers Inc. boosted its stake in Parsons by 54.5% in the third quarter. Peregrine Asset Advisers Inc. now owns 83,416 shares of the company's stock valued at $8,649,000 after acquiring an additional 29,431 shares during the period. State of New Jersey Common Pension Fund D bought a new position in shares of Parsons during the third quarter valued at approximately $2,172,000. Finally, Axxcess Wealth Management LLC grew its holdings in shares of Parsons by 15.2% during the third quarter. Axxcess Wealth Management LLC now owns 10,205 shares of the company's stock valued at $1,058,000 after purchasing an additional 1,350 shares during the last quarter. Institutional investors own 98.02% of the company's stock.

Parsons Price Performance

Parsons stock traded down $2.88 during trading hours on Friday, hitting $97.40. 1,831,587 shares of the company traded hands, compared to its average volume of 899,250. Parsons Co. has a 1-year low of $61.10 and a 1-year high of $114.68. The firm has a market cap of $10.34 billion, a P/E ratio of 147.55, a P/E/G ratio of 2.00 and a beta of 0.80. The firm's 50-day simple moving average is $104.82 and its two-hundred day simple moving average is $90.14. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.63 billion. As a group, analysts forecast that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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