BayBridge Capital Group LLC Buys Shares of 5,594 Parsons Co. (NYSE:PSN)

BayBridge Capital Group LLC acquired a new position in Parsons Co. (NYSE:PSN - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 5,594 shares of the company's stock, valued at approximately $580,000.

Other large investors have also recently modified their holdings of the company. Seaside Wealth Management Inc. purchased a new position in Parsons during the 1st quarter valued at about $1,240,000. AlphaMark Advisors LLC purchased a new position in Parsons during the 1st quarter valued at about $403,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Parsons during the 1st quarter valued at about $62,000. SpiderRock Advisors LLC purchased a new position in Parsons during the 1st quarter valued at about $406,000. Finally, Van ECK Associates Corp increased its holdings in Parsons by 276.2% during the 1st quarter. Van ECK Associates Corp now owns 144,127 shares of the company's stock valued at $11,955,000 after purchasing an additional 105,812 shares during the period. Hedge funds and other institutional investors own 98.02% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Benchmark lifted their price objective on Parsons from $68.00 to $101.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Truist Financial reaffirmed a "buy" rating and set a $108.00 price objective (up from $100.00) on shares of Parsons in a research report on Thursday, August 1st. KeyCorp lifted their price objective on Parsons from $99.00 to $116.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Robert W. Baird lifted their price objective on Parsons from $89.00 to $103.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. Finally, Raymond James cut Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price objective on the stock. in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $99.00.

Parsons Stock Down 0.2 %

PSN stock traded down $0.20 during midday trading on Friday, hitting $104.21. The company's stock had a trading volume of 731,980 shares, compared to its average volume of 889,339. The company has a market cap of $15.29 billion, a PE ratio of 578.94, a P/E/G ratio of 2.32 and a beta of 0.80. Parsons Co. has a 12 month low of $55.22 and a 12 month high of $109.55. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.54. The firm's 50-day moving average is $100.56 and its 200-day moving average is $87.09.

Parsons (NYSE:PSN - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.18. The business had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.53 billion. Parsons had a return on equity of 12.09% and a net margin of 0.89%. On average, equities research analysts forecast that Parsons Co. will post 2.88 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.