Charles Schwab Investment Management Inc. Sells 78,514 Shares of Parsons Co. (NYSE:PSN)

Charles Schwab Investment Management Inc. cut its position in shares of Parsons Co. (NYSE:PSN - Free Report) by 15.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 419,618 shares of the company's stock after selling 78,514 shares during the period. Charles Schwab Investment Management Inc. owned about 0.40% of Parsons worth $43,506,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSN. V Square Quantitative Management LLC bought a new position in shares of Parsons during the 3rd quarter worth about $33,000. Capital Performance Advisors LLP acquired a new stake in Parsons in the 3rd quarter valued at $45,000. Tanglewood Legacy Advisors LLC bought a new stake in Parsons in the second quarter valued at $44,000. DekaBank Deutsche Girozentrale acquired a new position in Parsons during the third quarter worth $72,000. Finally, Blue Trust Inc. boosted its stake in shares of Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company's stock valued at $86,000 after purchasing an additional 199 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

Parsons Trading Up 0.1 %

PSN stock traded up $0.05 during midday trading on Monday, reaching $95.96. The stock had a trading volume of 722,614 shares, compared to its average volume of 902,467. 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 Co. has a twelve month low of $61.10 and a twelve month high of $114.68. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of 145.40, a PEG ratio of 1.71 and a beta of 0.80. The business has a fifty day simple moving average of $104.50 and a two-hundred day simple moving average of $91.75.

Parsons (NYSE:PSN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.63 billion. As a group, research 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 analyst reports. Raymond James downgraded shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price target for the company. in a report on Wednesday, October 23rd. Truist Financial cut their target price 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 price objective on Parsons from $116.00 to $122.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Finally, Robert W. Baird raised their target price on Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. One 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.com, Parsons currently has a consensus rating of "Moderate Buy" and an average target price of $105.13.

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.