Van ECK Associates Corp lifted its position in shares of Parsons Co. (NYSE:PSN - Free Report) by 26.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 360,896 shares of the company's stock after acquiring an additional 75,096 shares during the quarter. Van ECK Associates Corp owned 0.25% of Parsons worth $37,670,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of PSN. V Square Quantitative Management LLC purchased a new stake in shares of Parsons in the third quarter valued at approximately $33,000. Tanglewood Legacy Advisors LLC purchased a new stake in Parsons in the 2nd quarter worth $44,000. DekaBank Deutsche Girozentrale purchased a new position in Parsons during the third quarter valued at $72,000. Blue Trust Inc. grew its position in shares of 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 during the period. Finally, EntryPoint Capital LLC increased its stake in shares of Parsons by 17.2% during the first quarter. EntryPoint Capital LLC now owns 1,334 shares of the company's stock worth $111,000 after purchasing an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on PSN shares. Truist Financial reiterated a "buy" rating and set a $108.00 price objective (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Benchmark increased their price objective on Parsons from $68.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. 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 report on Wednesday, October 23rd. Robert W. Baird increased their target price on shares of Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, 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 report on Thursday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.11.
Check Out Our Latest Stock Report on PSN
Parsons Stock Up 0.8 %
Shares of NYSE:PSN traded up $0.92 during trading on Monday, hitting $109.61. The company's stock had a trading volume of 970,125 shares, compared to its average volume of 893,695. The company has a market capitalization of $11.64 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 debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 1.55. Parsons Co. has a fifty-two week low of $61.09 and a fifty-two week high of $112.19. The business has a 50 day moving average price of $101.84 and a two-hundred day moving average price of $88.16.
Parsons (NYSE:PSN - Get Free Report) last issued its 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 net margin of 1.21% and a return on equity of 12.74%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. As a group, research analysts expect that Parsons Co. will post 2.89 EPS for the current fiscal year.
Parsons Company Profile
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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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