MetLife Investment Management LLC lifted its holdings in shares of Parsons Co. (NYSE:PSN - Free Report) by 2,846.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,130 shares of the company's stock after buying an additional 23,311 shares during the quarter. MetLife Investment Management LLC's holdings in Parsons were worth $2,502,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of PSN. Fisher Asset Management LLC lifted its stake in Parsons by 2.1% in the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company's stock valued at $452,000 after buying an additional 90 shares during the period. CIBC Asset Management Inc raised its position in shares of Parsons by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company's stock valued at $324,000 after acquiring an additional 96 shares during the period. Chartwell Investment Partners LLC boosted its stake in Parsons by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company's stock worth $1,507,000 after acquiring an additional 117 shares during the last quarter. AE Wealth Management LLC grew its holdings in Parsons by 2.7% during the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company's stock valued at $471,000 after purchasing an additional 150 shares during the period. Finally, Blue Trust Inc. increased its stake in Parsons by 23.6% in the second 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 Stock Down 0.2 %
PSN traded down $0.17 during trading hours on Thursday, hitting $98.88. 948,641 shares of the company's stock were exchanged, compared to its average volume of 907,102. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 149.82, a PEG ratio of 1.69 and a beta of 0.74. The stock's 50-day moving average is $104.21 and its two-hundred day moving average is $91.98. 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 1-year low of $61.10 and a 1-year high of $114.68.
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, beating analysts' consensus estimates of $0.73 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Sell-side analysts predict that Parsons Co. will post 3.02 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on PSN shares. Raymond James lowered Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price target on the stock. in a research report on Wednesday, October 23rd. Truist Financial lowered their target price on 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 target on shares of Parsons from $116.00 to $122.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, Robert W. Baird increased their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. One investment 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 currently has an average rating of "Moderate Buy" and an average target price of $105.13.
Get Our Latest Analysis on Parsons
Parsons Company Profile
(
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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