Lisanti Capital Growth LLC Has $1.86 Million Position in Parsons Co. (NYSE:PSN)

Lisanti Capital Growth LLC decreased its holdings in Parsons Co. (NYSE:PSN - Free Report) by 68.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,910 shares of the company's stock after selling 38,020 shares during the quarter. Lisanti Capital Growth LLC's holdings in Parsons were worth $1,857,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PSN. Tidal Investments LLC purchased a new stake in shares of Parsons in the first quarter worth about $853,000. Russell Investments Group Ltd. boosted its position in shares of Parsons by 17,130.4% during the first quarter. Russell Investments Group Ltd. now owns 9,649 shares of the company's stock valued at $800,000 after purchasing an additional 9,593 shares in the last quarter. Peregrine Asset Advisers Inc. purchased a new stake in shares of Parsons in the 2nd quarter worth approximately $4,417,000. SG Americas Securities LLC raised its holdings in Parsons by 872.4% in the 1st quarter. SG Americas Securities LLC now owns 39,586 shares of the company's stock worth $3,284,000 after acquiring an additional 35,515 shares during the last quarter. Finally, KP Management LLC boosted its holdings in shares of Parsons by 25.0% during the 2nd quarter. KP Management LLC now owns 25,000 shares of the company's stock valued at $2,045,000 after acquiring an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company's stock.

Analysts Set New Price Targets

PSN has been the topic of several analyst reports. 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. Benchmark raised their target price on shares of Parsons from $68.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. KeyCorp raised their price objective on Parsons from $116.00 to $122.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Truist Financial restated a "buy" rating and issued a $108.00 target price (up from $100.00) on shares of Parsons in a report on Thursday, August 1st. Finally, Raymond James cut shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price target for the company. in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Parsons currently has an average rating of "Moderate Buy" and a consensus price target of $102.11.

Parsons Trading Up 0.6 %

Shares of PSN stock traded up $0.62 on Monday, hitting $113.31. The stock had a trading volume of 461,641 shares, compared to its average volume of 889,395. The firm has a market capitalization of $12.03 billion, a P/E ratio of 172.17, a P/E/G ratio of 2.32 and a beta of 0.80. Parsons Co. has a 1 year low of $61.10 and a 1 year high of $114.68. 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 company's 50 day moving average price is $103.45 and its 200-day moving average price is $89.31.

Parsons (NYSE:PSN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. Analysts anticipate that Parsons Co. will post 3.02 earnings per share for the current 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.