Teachers Retirement System of The State of Kentucky acquired a new position in shares of Parsons Co. (NYSE:PSN - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,200 shares of the company's stock, valued at approximately $850,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in Parsons during the third quarter worth $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Parsons in the 3rd quarter valued at $33,000. Capital Performance Advisors LLP purchased a new stake in shares of Parsons in the 3rd quarter valued at $45,000. DekaBank Deutsche Girozentrale acquired a new position in Parsons during the 3rd quarter worth about $72,000. Finally, Blue Trust Inc. boosted its holdings in Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company's stock valued at $86,000 after acquiring an additional 199 shares during the period. 98.02% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
PSN has been the topic of a number of recent research reports. Truist Financial cut their price target on shares of Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. KeyCorp increased their target price on shares of Parsons from $116.00 to $122.00 and gave the stock 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 for the company. in a research report on Wednesday, October 23rd. Robert W. Baird increased their price objective on Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group upgraded Parsons from a "neutral" rating to a "buy" rating and lifted their target price for the company from $103.00 to $111.00 in a report on Thursday, December 12th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Parsons currently has an average rating of "Buy" and a consensus target price of $108.88.
View Our Latest Stock Report on PSN
Parsons Stock Up 0.2 %
Shares of Parsons stock traded up $0.19 during trading on Thursday, hitting $95.10. 795,948 shares of the stock were exchanged, compared to its average volume of 901,503. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The firm's 50-day moving average price is $102.57 and its 200 day moving average price is $93.27. The stock has a market cap of $10.10 billion, a price-to-earnings 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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. As a group, analysts forecast that Parsons Co. will post 3.02 earnings per share for the current fiscal 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.
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