Point72 Asset Management L.P. Sells 115,765 Shares of Parsons Co. (NYSE:PSN)

Point72 Asset Management L.P. lessened its holdings in shares of Parsons Co. (NYSE:PSN - Free Report) by 33.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,634 shares of the company's stock after selling 115,765 shares during the period. Point72 Asset Management L.P. owned about 0.22% of Parsons worth $24,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSN. Fisher Asset Management LLC lifted its position in shares of Parsons by 2.1% in the 3rd quarter. Fisher Asset Management LLC now owns 4,364 shares of the company's stock worth $452,000 after purchasing an additional 90 shares during the period. CIBC Asset Management Inc lifted its holdings in Parsons by 3.2% in the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company's stock worth $324,000 after buying an additional 96 shares during the period. Chartwell Investment Partners LLC grew its holdings in shares of Parsons by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company's stock worth $1,507,000 after acquiring an additional 117 shares during the period. AE Wealth Management LLC grew its holdings in shares of Parsons by 2.7% during the 2nd quarter. AE Wealth Management LLC now owns 5,763 shares of the company's stock worth $471,000 after acquiring an additional 150 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company's stock valued at $86,000 after purchasing an additional 199 shares during the period. Institutional investors own 98.02% of the company's stock.

Parsons Stock Down 0.9 %

Parsons stock traded down $0.85 during trading hours on Friday, hitting $98.03. The stock had a trading volume of 570,961 shares, compared to its average volume of 905,679. The stock's 50-day moving average price is $104.09 and its 200-day moving average price is $92.12. The stock has a market capitalization of $10.41 billion, a P/E ratio of 148.53, a price-to-earnings-growth ratio of 1.69 and a beta of 0.74. Parsons Co. has a 12-month low of $61.10 and a 12-month high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN - Get Free Report) last announced its quarterly earnings data 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. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Equities research analysts anticipate that Parsons Co. will post 3.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. KeyCorp upped their price target on Parsons from $116.00 to $122.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Truist Financial reduced their target price 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. 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 research report on Thursday, October 31st. Finally, Raymond James cut shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price objective on the stock. in a report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Parsons has a consensus rating of "Moderate Buy" and a consensus target price of $105.13.

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.