Oppenheimer & Co. Inc. Raises Stake in Parsons Co. (NYSE:PSN)

Oppenheimer & Co. Inc. lifted its position in Parsons Co. (NYSE:PSN - Free Report) by 37.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,016 shares of the company's stock after purchasing an additional 6,577 shares during the period. Oppenheimer & Co. Inc.'s holdings in Parsons were worth $2,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Pinnacle Financial Partners Inc purchased a new stake in shares of Parsons during the third quarter worth $248,000. Aptus Capital Advisors LLC purchased a new stake in shares of Parsons in the 3rd quarter worth about $563,000. Aigen Investment Management LP purchased a new stake in shares of Parsons in the third quarter valued at $1,004,000. Chartwell Investment Partners LLC increased its holdings in shares of Parsons by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company's stock worth $1,507,000 after buying an additional 117 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. raised its stake in shares of Parsons by 54.5% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 83,416 shares of the company's stock valued at $8,649,000 after acquiring an additional 29,431 shares during the period. Hedge funds and other institutional investors own 98.02% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Benchmark increased their target price on Parsons from $68.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Truist Financial reaffirmed a "buy" rating and issued a $108.00 target price (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. KeyCorp lifted their price target on shares of Parsons from $116.00 to $122.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Finally, Raymond James lowered shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price target on the stock. in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Parsons has an average rating of "Moderate Buy" and a consensus target price of $104.88.

Parsons Stock Performance

PSN stock traded down $2.88 during mid-day trading on Friday, hitting $97.40. The company had a trading volume of 1,831,587 shares, compared to its average volume of 906,959. Parsons Co. has a 12 month low of $61.10 and a 12 month high of $114.68. The stock's fifty day moving average price is $104.82 and its two-hundred day moving average price is $90.22. The firm has a market cap of $10.34 billion, a PE ratio of 147.58, a price-to-earnings-growth ratio of 1.74 and a beta of 0.80. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55.

Parsons (NYSE:PSN - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.63 billion. On average, analysts forecast that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

Parsons Company 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.