Parsons Co. (NYSE:PSN) Shares Purchased by Brookstone Capital Management

Brookstone Capital Management raised its holdings in shares of Parsons Co. (NYSE:PSN - Free Report) by 209.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,957 shares of the company's stock after purchasing an additional 18,238 shares during the period. Brookstone Capital Management's holdings in Parsons were worth $2,487,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PSN. ORG Wealth Partners LLC bought a new stake in Parsons during the fourth quarter valued at about $26,000. GAMMA Investing LLC lifted its position in shares of Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company's stock valued at $29,000 after buying an additional 218 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Parsons in the 3rd quarter valued at about $30,000. V Square Quantitative Management LLC purchased a new position in shares of Parsons in the 3rd quarter worth approximately $33,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Parsons during the 3rd quarter worth approximately $45,000. Institutional investors own 98.02% of the company's stock.

Parsons Stock Performance

Parsons stock traded up $0.91 during trading hours on Wednesday, hitting $95.38. 672,380 shares of the stock traded hands, compared to its average volume of 880,576. Parsons Co. has a 1 year low of $64.33 and a 1 year high of $114.68. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 144.52, a P/E/G ratio of 1.72 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The firm's 50 day moving average price is $96.79 and its 200-day moving average price is $95.46.

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

Analysts Set New Price Targets

PSN has been the subject of several recent analyst reports. Raymond James downgraded shares of Parsons from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. 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. TD Cowen reduced their target price on Parsons from $117.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group upgraded Parsons from a "neutral" rating to a "buy" rating and increased their price target for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. Finally, Truist Financial cut their price objective on shares of Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Parsons presently has an average rating of "Moderate Buy" and a consensus price target of $108.25.

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.