New York State Teachers Retirement System Takes $1.11 Million Position in Parsons Co. (NYSE:PSN)

New York State Teachers Retirement System acquired a new position in shares of Parsons Co. (NYSE:PSN - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,708 shares of the company's stock, valued at approximately $1,110,000.

A number of other institutional investors have also recently modified their holdings of PSN. Janney Montgomery Scott LLC acquired a new stake in shares of Parsons in the 1st quarter valued at $1,451,000. SG Americas Securities LLC grew its stake in shares of Parsons by 872.4% during the first quarter. SG Americas Securities LLC now owns 39,586 shares of the company's stock worth $3,284,000 after buying an additional 35,515 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Parsons in the 1st quarter valued at $1,064,000. Susquehanna Fundamental Investments LLC acquired a new position in Parsons in the 1st quarter worth about $448,000. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. boosted its stake in shares of Parsons by 2.8% during the first quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 115,911 shares of the company's stock valued at $9,615,000 after purchasing an additional 3,154 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on PSN. Truist Financial reaffirmed a "buy" rating and issued a $108.00 price objective (up previously from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Raymond James downgraded Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price objective for the company. in a report on Wednesday, October 23rd. KeyCorp lifted their target price on Parsons from $116.00 to $122.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Benchmark upped their price target on shares of Parsons from $68.00 to $101.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Finally, Robert W. Baird raised their target price 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 eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $102.11.

Parsons Stock Performance

Shares of PSN stock traded up $2.42 during trading hours on Friday, hitting $112.69. 771,869 shares of the company were exchanged, compared to its average volume of 800,606. Parsons Co. has a 52-week low of $61.10 and a 52-week high of $114.68. 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 firm has a fifty day simple moving average of $103.45 and a 200 day simple moving average of $89.24. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 170.75, a P/E/G ratio of 2.32 and a beta of 0.80.

Parsons (NYSE:PSN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.07. The company had revenue of $1.81 billion for 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%. Research analysts predict that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

About Parsons

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.