FMR LLC increased its position in shares of Parsons Co. (NYSE:PSN - Free Report) by 391.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 195,850 shares of the company's stock after purchasing an additional 155,991 shares during the period. FMR LLC owned approximately 0.18% of Parsons worth $20,306,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Parsons during the 3rd quarter valued at approximately $33,000. Capital Performance Advisors LLP purchased a new position in Parsons during the 3rd quarter valued at about $45,000. Tanglewood Legacy Advisors LLC purchased a new position in Parsons in the 2nd quarter worth approximately $44,000. DekaBank Deutsche Girozentrale purchased a new stake in Parsons during the third quarter valued at $72,000. Finally, Blue Trust Inc. increased its holdings in Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company's stock worth $86,000 after acquiring an additional 199 shares in the last quarter. Institutional investors own 98.02% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. KeyCorp lifted their target price on Parsons from $116.00 to $122.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Robert W. Baird increased their target price on Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Raymond James downgraded shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 target price on the stock. in a report on Wednesday, October 23rd. Finally, Truist Financial dropped their price objective on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a report on Friday, November 22nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $105.13.
Check Out Our Latest Stock Analysis on PSN
Parsons Trading Down 0.8 %
Shares of PSN stock traded down $0.73 during mid-day trading on Wednesday, reaching $95.19. The stock had a trading volume of 1,233,359 shares, compared to its average volume of 906,684. Parsons Co. has a 52-week low of $61.10 and a 52-week high of $114.68. The firm has a market capitalization of $10.11 billion, a PE ratio of 145.33, a price-to-earnings-growth ratio of 1.75 and a beta of 0.74. The stock's 50-day moving average price is $103.95 and its two-hundred day moving average price is $92.47. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.
Parsons (NYSE:PSN - Get Free Report) last issued its quarterly 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. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.63 billion. Equities analysts expect that Parsons Co. will post 3.02 earnings per share for the current fiscal year.
About Parsons
(
Free Report)
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.
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