Stifel Financial Corp Sells 5,824 Shares of Parsons Co. (NYSE:PSN)

Stifel Financial Corp trimmed its holdings in shares of Parsons Co. (NYSE:PSN - Free Report) by 19.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,816 shares of the company's stock after selling 5,824 shares during the period. Stifel Financial Corp's holdings in Parsons were worth $2,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D acquired a new stake in shares of Parsons in the 3rd quarter worth $2,172,000. Oppenheimer & Co. Inc. raised its stake in Parsons by 37.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company's stock valued at $2,490,000 after acquiring an additional 6,577 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Parsons during the 3rd quarter worth $1,004,000. Peregrine Asset Advisers Inc. purchased a new position in Parsons during the 2nd quarter valued at about $4,417,000. Finally, MetLife Investment Management LLC lifted its stake in Parsons by 2,846.3% in the 3rd quarter. MetLife Investment Management LLC now owns 24,130 shares of the company's stock valued at $2,502,000 after buying an additional 23,311 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

Parsons Stock Performance

Shares of NYSE:PSN traded up $0.19 on Thursday, hitting $95.10. 795,948 shares of the company were exchanged, compared to its average volume of 901,503. Parsons Co. has a one year low of $61.35 and a one year high of $114.68. 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 $10.10 billion, a price-to-earnings ratio of 144.09, a PEG ratio of 1.72 and a beta of 0.74. The company's 50 day moving average price is $102.57 and its two-hundred day moving average price is $93.27.

Parsons (NYSE:PSN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) 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 business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.63 billion. Research analysts expect that Parsons Co. will post 3.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PSN shares. The Goldman Sachs Group raised Parsons from a "neutral" rating to a "buy" rating and increased their target price for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Truist Financial decreased their target price on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. KeyCorp increased their price target 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 price objective for the company. in a report on Wednesday, October 23rd. Finally, Robert W. Baird raised their target price on Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $108.88.

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.