Peregrine Asset Advisers Inc. Acquires 29,431 Shares of Parsons Co. (NYSE:PSN)

Peregrine Asset Advisers Inc. boosted its holdings in Parsons Co. (NYSE:PSN - Free Report) by 54.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,416 shares of the company's stock after purchasing an additional 29,431 shares during the quarter. Parsons comprises 3.0% of Peregrine Asset Advisers Inc.'s portfolio, making the stock its 6th largest position. Peregrine Asset Advisers Inc. owned approximately 0.08% of Parsons worth $8,649,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Parsons during the third quarter worth about $33,000. Tanglewood Legacy Advisors LLC purchased a new stake in Parsons during the second quarter worth $44,000. Capital Performance Advisors LLP purchased a new stake in shares of Parsons during the 3rd quarter valued at $45,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Parsons during the third quarter worth $72,000. Finally, Blue Trust Inc. increased its stake in shares of Parsons by 23.6% in the second quarter. Blue Trust Inc. now owns 1,041 shares of the company's stock worth $86,000 after acquiring an additional 199 shares during the period. Institutional investors own 98.02% of the company's stock.

Analyst Upgrades and Downgrades

PSN has been the topic of a number of recent analyst reports. Robert W. Baird increased their target price on Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Truist Financial reissued a "buy" rating and issued a $108.00 price objective (up from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Raymond James lowered shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 target price on the stock. in a research report on Wednesday, October 23rd. KeyCorp boosted their price target on shares of Parsons from $116.00 to $122.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Benchmark raised their price objective on Parsons from $68.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $102.11.

Parsons Stock Up 0.9 %

Shares of Parsons stock traded up $0.99 during trading hours on Monday, hitting $113.68. 188,375 shares of the company's stock traded hands, compared to its average volume of 888,141. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock has a 50 day simple moving average of $103.45 and a 200-day simple moving average of $89.31. The company has a market cap of $12.07 billion, a PE ratio of 172.17, a PEG ratio of 2.32 and a beta of 0.80. 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 issued its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating 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 return on equity of 12.74% and a net margin of 1.21%. Equities research analysts anticipate that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

About Parsons

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.