State of Alaska Department of Revenue Invests $561,000 in Parsons Co. (NYSE:PSN)

State of Alaska Department of Revenue bought a new stake in shares of Parsons Co. (NYSE:PSN - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,420 shares of the company's stock, valued at approximately $561,000.

Several other large investors also recently modified their holdings of PSN. Janney Montgomery Scott LLC bought a new position in Parsons during the first quarter worth about $1,451,000. SG Americas Securities LLC grew its position in shares of Parsons by 872.4% in the first quarter. SG Americas Securities LLC now owns 39,586 shares of the company's stock valued at $3,284,000 after purchasing an additional 35,515 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Parsons during the 1st quarter valued at $1,064,000. Lisanti Capital Growth LLC purchased a new stake in Parsons during the 1st quarter worth about $3,887,000. Finally, Benedetti & Gucer Inc. bought a new position in Parsons in the 1st quarter worth about $321,000. Hedge funds and other institutional investors own 98.02% of the company's stock.

Parsons Price Performance

Shares of Parsons stock traded up $2.42 during trading on Friday, hitting $112.69. 771,867 shares of the stock traded hands, compared to its average volume of 891,366. The firm's fifty day moving average is $103.45 and its 200-day moving average is $89.17. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 170.75, a PEG ratio of 2.28 and a beta of 0.80. Parsons Co. has a 52 week low of $61.10 and a 52 week 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 posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 EPS 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 the consensus estimate of $1.63 billion. Research analysts expect that Parsons Co. will post 3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.