Principal Financial Group Inc. increased its position in Parsons Co. (NYSE:PSN - Free Report) by 18.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,192,943 shares of the company's stock after purchasing an additional 183,117 shares during the period. Principal Financial Group Inc. owned 1.12% of Parsons worth $123,685,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Systems of Alabama bought a new stake in Parsons during the third quarter valued at $5,884,000. Franklin Resources Inc. grew its position in shares of Parsons by 11.8% during the 3rd quarter. Franklin Resources Inc. now owns 601,071 shares of the company's stock valued at $64,813,000 after buying an additional 63,657 shares during the last quarter. Tidal Investments LLC raised its stake in Parsons by 140.9% during the third quarter. Tidal Investments LLC now owns 7,214 shares of the company's stock worth $748,000 after acquiring an additional 4,220 shares during the period. TD Private Client Wealth LLC lifted its holdings in Parsons by 42.2% in the third quarter. TD Private Client Wealth LLC now owns 1,512 shares of the company's stock worth $157,000 after acquiring an additional 449 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Parsons in the third quarter valued at approximately $850,000. 98.02% of the stock is owned by institutional investors.
Parsons Price Performance
Shares of NYSE:PSN traded up $0.58 during trading on Friday, reaching $95.68. The company had a trading volume of 1,513,171 shares, compared to its average volume of 903,993. The firm's fifty day moving average is $102.14 and its 200 day moving average is $93.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $10.16 billion, a PE ratio of 144.97, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. Parsons Co. has a twelve month low of $61.35 and a twelve month high of $114.68.
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, topping 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. On average, equities analysts forecast that Parsons Co. will post 3.02 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. The Goldman Sachs Group upgraded Parsons from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $103.00 to $111.00 in a research report on Thursday, December 12th. Truist Financial lowered their price target on shares of Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Raymond James downgraded 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 report on Wednesday, October 23rd. Robert W. Baird upped their target price on shares of Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Finally, KeyCorp raised their price target on shares of Parsons from $116.00 to $122.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $108.88.
Read Our Latest Stock Report on PSN
About Parsons
(
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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