Two Sigma Advisers LP Sells 18,600 Shares of Parsons Co. (NYSE:PSN)

Two Sigma Advisers LP reduced its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 10.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,645 shares of the company's stock after selling 18,600 shares during the period. Two Sigma Advisers LP owned 0.15% of Parsons worth $16,241,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Earnest Partners LLC boosted its holdings in shares of Parsons by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 2,168,598 shares of the company's stock worth $177,413,000 after buying an additional 49,891 shares during the period. State Street Corp lifted its position in Parsons by 60.6% during the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company's stock worth $169,429,000 after acquiring an additional 616,707 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Parsons by 18.1% during the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock valued at $123,685,000 after acquiring an additional 183,117 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Parsons by 61.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company's stock valued at $116,471,000 after purchasing an additional 428,662 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Parsons in the third quarter worth about $62,514,000. Institutional investors and hedge funds own 98.02% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PSN shares. KeyCorp boosted 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. Truist Financial decreased 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. Raymond James lowered shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price objective for the company. in a research report on Wednesday, October 23rd. Finally, Robert W. Baird lifted their target price on Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Parsons has a consensus rating of "Moderate Buy" and an average target price of $105.13.

Parsons Price Performance

Parsons stock traded down $1.25 on Monday, reaching $96.78. The company's stock had a trading volume of 974,914 shares, compared to its average volume of 905,970. The business's fifty day moving average price is $104.09 and its 200 day moving average price is $92.33. 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 company has a market cap of $10.28 billion, a price-to-earnings ratio of 150.71, a PEG ratio of 1.75 and a beta of 0.74. Parsons Co. has a twelve month low of $61.10 and a twelve month high of $114.68.

Parsons (NYSE:PSN - Get Free Report) last announced 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. The company 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%. Equities analysts expect that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

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.