Parsons Co. (NYSE:PSN) Shares Bought by First Hawaiian Bank

First Hawaiian Bank raised its position in Parsons Co. (NYSE:PSN - Free Report) by 48.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,523 shares of the company's stock after acquiring an additional 12,964 shares during the quarter. First Hawaiian Bank's holdings in Parsons were worth $3,646,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in Parsons by 14.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 27,013 shares of the company's stock valued at $2,210,000 after purchasing an additional 3,491 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Parsons by 15.6% during the second quarter. Arizona State Retirement System now owns 13,331 shares of the company's stock valued at $1,091,000 after acquiring an additional 1,801 shares in the last quarter. Choreo LLC purchased a new stake in shares of Parsons during the second quarter worth about $1,461,000. Qsemble Capital Management LP acquired a new position in shares of Parsons in the second quarter worth about $518,000. Finally, Johnson Investment Counsel Inc. purchased a new position in Parsons in the second quarter valued at about $235,000. Institutional investors and hedge funds own 98.02% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Raymond James downgraded Parsons from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Truist Financial cut their price target 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. TD Cowen decreased their price objective on shares of Parsons from $117.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday. KeyCorp cut their target price on shares of Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Robert W. Baird lifted their price target on Parsons from $103.00 to $125.00 and gave the stock 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.25.

Parsons Stock Performance

PSN traded up $1.15 on Wednesday, hitting $91.69. 893,493 shares of the company's stock were exchanged, compared to its average volume of 963,479. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average of $98.41 and a two-hundred day moving average of $95.02. Parsons Co. has a twelve month low of $62.13 and a twelve month high of $114.68. The firm has a market cap of $9.74 billion, a PE ratio of 138.93, a P/E/G ratio of 1.72 and a beta of 0.74.

Parsons (NYSE:PSN - Get Free Report) last announced 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 return on equity of 12.74% and a net margin of 1.21%. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.63 billion. On average, research analysts anticipate that Parsons Co. will post 3.02 earnings per share for the current fiscal 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.