New York State Common Retirement Fund Sells 45,494 Shares of Parsons Co. (NYSE:PSN)

New York State Common Retirement Fund trimmed its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 18.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,536 shares of the company's stock after selling 45,494 shares during the period. New York State Common Retirement Fund owned 0.19% of Parsons worth $20,481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Janney Montgomery Scott LLC acquired a new position in shares of Parsons in the first quarter valued at approximately $1,451,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Parsons in the 1st quarter valued at $290,000. Quantbot Technologies LP raised its position in Parsons by 33.9% during the 1st quarter. Quantbot Technologies LP now owns 50,543 shares of the company's stock worth $4,193,000 after buying an additional 12,784 shares during the last quarter. SG Americas Securities LLC raised its position in Parsons by 872.4% during the 1st 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. Finally, Oppenheimer & Co. Inc. purchased a new position in Parsons during the 1st quarter worth $1,064,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Stock Up 1.6 %

Shares of NYSE PSN traded up $1.76 during mid-day trading on Tuesday, reaching $111.37. 706,550 shares of the company's stock were exchanged, compared to its average volume of 892,819. 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 market capitalization of $11.83 billion, a price-to-earnings ratio of 166.08, a PEG ratio of 2.34 and a beta of 0.80. Parsons Co. has a twelve month low of $61.09 and a twelve month high of $112.19. The business has a fifty day simple moving average of $102.13 and a 200 day simple moving average of $88.38.

Parsons (NYSE:PSN - Get Free Report) last released its 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. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. As a group, equities analysts expect that Parsons Co. will post 2.89 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on PSN. Raymond James cut shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price objective on the stock. in a research note on Wednesday, October 23rd. KeyCorp raised their price target on shares of Parsons from $116.00 to $122.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Benchmark raised their price target on shares of Parsons from $68.00 to $101.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Robert W. Baird lifted their price objective on shares of Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Finally, Truist Financial reissued a "buy" rating and set a $108.00 price target (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $102.11.

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.