Vanguard Group Inc. Increases Position in Parsons Co. (NYSE:PSN)

Vanguard Group Inc. raised its position in Parsons Co. (NYSE:PSNFree Report) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,119,811 shares of the company’s stock after purchasing an additional 131,617 shares during the period. Vanguard Group Inc.’s holdings in Parsons were worth $223,912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Comerica Bank purchased a new position in shares of Parsons in the 3rd quarter valued at $30,000. The Manufacturers Life Insurance Company grew its position in shares of Parsons by 81.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 34,815 shares of the company’s stock valued at $1,892,000 after buying an additional 15,670 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Parsons in the 3rd quarter valued at $1,197,000. Royal Bank of Canada grew its position in shares of Parsons by 37.4% in the 3rd quarter. Royal Bank of Canada now owns 9,309 shares of the company’s stock valued at $507,000 after buying an additional 2,532 shares during the last quarter. Finally, Knightsbridge Asset Management LLC purchased a new position in shares of Parsons in the 3rd quarter valued at $341,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PSN. Robert W. Baird increased their target price on shares of Parsons from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. KeyCorp raised their price objective on shares of Parsons from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Truist Financial raised their price objective on shares of Parsons from $74.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group raised their price objective on shares of Parsons from $65.00 to $73.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.22.

Read Our Latest Stock Analysis on PSN

Parsons Stock Up 0.3 %

PSN stock opened at $82.95 on Friday. Parsons Co. has a one year low of $42.22 and a one year high of $84.19. The stock has a market capitalization of $8.78 billion, a PE ratio of 58.42, a price-to-earnings-growth ratio of 3.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.52 and a current ratio of 1.51. The company has a fifty day moving average of $75.55 and a 200-day moving average of $65.56.

Parsons (NYSE:PSNGet Free Report) last released its earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.56 by $0.13. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the business earned $0.45 EPS. The business’s revenue was up 36.4% on a year-over-year basis. As a group, analysts expect that Parsons Co. will post 2.55 EPS for the current year.

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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Institutional Ownership by Quarter for Parsons (NYSE:PSN)

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