Capital CS Group LLC Makes New Investment in Parsons Co. (NYSE:PSN)

Capital CS Group LLC bought a new position in shares of Parsons Co. (NYSE:PSN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,360 shares of the company's stock, valued at approximately $587,000. Parsons makes up 0.8% of Capital CS Group LLC's investment portfolio, making the stock its 23rd biggest holding.

Several other hedge funds have also recently bought and sold shares of PSN. Johnson Investment Counsel Inc. bought a new position in shares of Parsons during the 2nd quarter worth approximately $235,000. Oppenheimer & Co. Inc. increased its stake in Parsons by 36.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 17,439 shares of the company's stock valued at $1,427,000 after buying an additional 4,614 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Parsons by 2.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 32,544 shares of the company's stock worth $2,662,000 after buying an additional 867 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Parsons by 12.6% during the 2nd quarter. Renaissance Technologies LLC now owns 412,100 shares of the company's stock worth $33,714,000 after buying an additional 46,000 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. bought a new position in shares of Parsons in the 2nd quarter valued at about $4,417,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Truist Financial dropped their price objective on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. The Goldman Sachs Group upgraded shares of 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. TD Cowen lowered their price objective on shares of Parsons from $117.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. KeyCorp cut their target price on shares of Parsons from $122.00 to $102.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Finally, Raymond James lowered Parsons from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.25.

Parsons Price Performance

Shares of Parsons stock traded up $0.92 during trading on Tuesday, reaching $94.41. 828,533 shares of the company's stock were exchanged, compared to its average volume of 906,603. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. Parsons Co. has a 1-year low of $64.33 and a 1-year high of $114.68. The company has a market cap of $10.03 billion, a P/E ratio of 143.05, a PEG ratio of 1.72 and a beta of 0.74. The firm's 50-day moving average price is $97.10 and its 200 day moving average price is $95.46.

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