State of New Jersey Common Pension Fund D acquired a new position in shares of Parsons Co. (NYSE:PSN - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,953 shares of the company's stock, valued at approximately $2,172,000.
Other hedge funds have also bought and sold shares of the company. Tidal Investments LLC acquired a new stake in shares of Parsons during the 1st quarter worth approximately $853,000. Russell Investments Group Ltd. increased its stake in Parsons by 17,130.4% in the first quarter. Russell Investments Group Ltd. now owns 9,649 shares of the company's stock valued at $800,000 after purchasing an additional 9,593 shares in the last quarter. Peregrine Asset Advisers Inc. acquired a new position in shares of Parsons during the second quarter valued at about $4,417,000. KP Management LLC grew its stake in shares of Parsons by 25.0% in the 2nd quarter. KP Management LLC now owns 25,000 shares of the company's stock valued at $2,045,000 after buying an additional 5,000 shares during the period. Finally, Principal Financial Group Inc. increased its position in Parsons by 18.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock valued at $123,685,000 after buying an additional 183,117 shares in the last quarter. Institutional investors own 98.02% of the company's stock.
Analyst Upgrades and Downgrades
PSN has been the topic of several recent research reports. Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. KeyCorp lifted their price target on shares of Parsons from $116.00 to $122.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Truist Financial restated a "buy" rating and set a $108.00 price objective (up previously from $100.00) on shares of Parsons in a report on Thursday, August 1st. Raymond James cut shares of 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. Finally, Benchmark boosted their target price on shares of Parsons from $68.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $102.11.
View Our Latest Report on Parsons
Parsons Stock Down 3.6 %
NYSE:PSN traded down $3.66 on Friday, hitting $96.62. The stock had a trading volume of 973,854 shares, compared to its average volume of 895,387. Parsons Co. has a 1 year low of $61.10 and a 1 year high of $114.68. The firm's fifty day simple moving average is $104.71 and its two-hundred day simple moving average is $90.01. 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 stock has a market cap of $10.26 billion, a P/E ratio of 147.35, a price-to-earnings-growth ratio of 2.00 and a beta of 0.80.
Parsons (NYSE:PSN - Get Free Report) last issued its quarterly 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. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Analysts predict that Parsons Co. will post 3.02 earnings per share for the current year.
About Parsons
(
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.
Further Reading
Before you consider Parsons, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Parsons wasn't on the list.
While Parsons currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
