Castleark Management LLC Has $215,000 Stock Holdings in Parsons Co. (NYSE:PSN)

Castleark Management LLC cut its holdings in shares of Parsons Co. (NYSE:PSN - Free Report) by 96.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,070 shares of the company's stock after selling 55,540 shares during the quarter. Castleark Management LLC's holdings in Parsons were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new position in shares of Parsons during the 3rd quarter worth about $30,000. V Square Quantitative Management LLC acquired a new position in Parsons during the third quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new position in Parsons during the third quarter worth approximately $45,000. Tanglewood Legacy Advisors LLC acquired a new position in shares of Parsons in the 2nd quarter valued at $44,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Parsons during the 3rd quarter valued at $72,000. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on PSN shares. Robert W. Baird lifted their target price on Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Truist Financial reduced their price objective on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. KeyCorp increased their target price on shares of Parsons from $116.00 to $122.00 and gave the stock 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 report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $105.13.

Parsons Stock Down 0.9 %

PSN traded down $0.85 during trading hours on Friday, reaching $98.03. 570,961 shares of the stock traded hands, compared to its average volume of 1,009,279. The company has a market cap of $10.41 billion, a price-to-earnings ratio of 148.53, a PEG ratio of 1.77 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The firm's fifty day simple moving average is $104.09 and its two-hundred day simple moving average is $92.33. Parsons Co. has a fifty-two week low of $61.10 and a fifty-two week high of $114.68.

Parsons (NYSE:PSN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.63 billion. As a group, analysts forecast that Parsons Co. will post 3.02 earnings per share 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.