Retirement Systems of Alabama acquired a new position in Parsons Co. (NYSE:PSN - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 56,754 shares of the company's stock, valued at approximately $5,884,000. Retirement Systems of Alabama owned about 0.05% of Parsons at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of PSN. True Wealth Design LLC purchased a new position in shares of Parsons in the 3rd quarter worth about $30,000. V Square Quantitative Management LLC bought a new position in shares of Parsons during the 3rd quarter valued at approximately $33,000. Capital Performance Advisors LLP purchased a new stake in shares of Parsons during the 3rd quarter worth approximately $45,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Parsons in the 3rd quarter worth approximately $72,000. Finally, Blue Trust Inc. raised its holdings in shares of Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company's stock worth $86,000 after purchasing an additional 199 shares during the period. Institutional investors own 98.02% of the company's stock.
Parsons Price Performance
NYSE:PSN traded up $0.19 during mid-day trading on Thursday, hitting $95.10. 795,948 shares of the stock traded hands, compared to its average volume of 901,503. The business's 50-day moving average price is $102.37 and its 200 day moving average price is $93.28. 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 company has a market cap of $10.10 billion, a PE ratio of 144.09, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. Parsons Co. has a 12-month low of $61.35 and a 12-month high of $114.68.
Parsons (NYSE:PSN - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.63 billion. On average, analysts expect that Parsons Co. will post 3.02 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have issued reports on PSN. The Goldman Sachs Group raised Parsons from a "neutral" rating to a "buy" rating and raised their target price for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Raymond James lowered 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. Robert W. Baird upped their price objective on shares of Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a report 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 for the company in a research note on Friday, November 22nd. Finally, KeyCorp upped their price target on shares of Parsons from $116.00 to $122.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $108.88.
Check Out Our Latest Stock Analysis on Parsons
Parsons Profile
(
Free Report)
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.
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