Harbor Capital Advisors Inc. Boosts Stake in Parsons Co. (NYSE:PSN)

Harbor Capital Advisors Inc. boosted its position in shares of Parsons Co. (NYSE:PSN - Free Report) by 180.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,958 shares of the company's stock after purchasing an additional 46,988 shares during the period. Harbor Capital Advisors Inc.'s holdings in Parsons were worth $7,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. AE Wealth Management LLC increased 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 buying an additional 150 shares during the period. EntryPoint Capital LLC raised its stake in shares of Parsons by 17.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company's stock worth $111,000 after buying an additional 196 shares during the period. Blue Trust Inc. raised its position in Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company's stock worth $86,000 after acquiring an additional 199 shares during the period. Certified Advisory Corp raised its position in shares of Parsons by 6.2% during the 2nd quarter. Certified Advisory Corp now owns 4,743 shares of the company's stock worth $388,000 after purchasing an additional 278 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Parsons by 2.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,992 shares of the company's stock valued at $1,161,000 after acquiring an additional 311 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Trading Up 0.5 %

Shares of NYSE PSN traded up $0.53 on Friday, reaching $108.69. 822,837 shares of the company traded hands, compared to its average volume of 779,399. Parsons Co. has a fifty-two week low of $60.38 and a fifty-two week high of $112.19. The company has a 50 day moving average of $101.84 and a 200 day moving average of $88.16. The stock has a market capitalization of $11.54 billion, a PE ratio of 164.68, a P/E/G ratio of 2.33 and a beta of 0.80. The company has a current ratio of 1.55, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. On average, equities research analysts forecast that Parsons Co. will post 2.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PSN shares. Robert W. Baird raised their target price on shares of Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday. Benchmark boosted their price target on shares of Parsons from $68.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Truist Financial restated a "buy" rating and set a $108.00 price target (up from $100.00) on shares of Parsons in a research report on Thursday, August 1st. KeyCorp boosted their price target on shares of Parsons from $116.00 to $122.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Raymond James lowered 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, October 23rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $102.11.

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.