Parsons Co. (NYSE:PSN) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Parsons Co. (NYSE:PSN - Free Report) by 110.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,420 shares of the company's stock after buying an additional 133,310 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.24% of Parsons worth $26,378,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Parsons during the third quarter worth about $33,000. Tanglewood Legacy Advisors LLC acquired a new stake in shares of Parsons in the 2nd quarter worth approximately $44,000. Capital Performance Advisors LLP purchased a new position in Parsons in the 3rd quarter valued at approximately $45,000. DekaBank Deutsche Girozentrale acquired a new position in Parsons during the third quarter worth $72,000. Finally, Blue Trust Inc. boosted 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 purchasing an additional 199 shares in the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSN has been the topic of several research reports. Truist Financial lowered their price target on shares of Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. KeyCorp lifted their price objective on Parsons from $116.00 to $122.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Raymond James downgraded shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 target price for the company. in a report on Wednesday, October 23rd. Finally, Robert W. Baird lifted their price target on shares of Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $105.13.

Parsons Stock Down 0.1 %

PSN traded down $0.09 on Thursday, reaching $98.96. The company's stock had a trading volume of 448,819 shares, compared to its average volume of 904,795. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. Parsons Co. has a 1 year low of $61.10 and a 1 year high of $114.68. The business's 50 day moving average is $104.30 and its 200 day moving average is $91.93. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 150.06, a price-to-earnings-growth ratio of 1.69 and a beta of 0.74.

Parsons (NYSE:PSN - Get Free Report) last released its quarterly 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. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. As a group, research analysts forecast that Parsons Co. will post 3.02 EPS for the current fiscal year.

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.