Strs Ohio Has $990,000 Holdings in Parsons Co. (NYSE:PSN)

Strs Ohio increased its holdings in shares of Parsons Co. (NYSE:PSN) by 31.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,800 shares of the company’s stock after buying an additional 3,800 shares during the quarter. Strs Ohio’s holdings in Parsons were worth $990,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PSN. DekaBank Deutsche Girozentrale acquired a new stake in Parsons during the 3rd quarter worth $38,000. Covestor Ltd raised its stake in Parsons by 126.0% during the 3rd quarter. Covestor Ltd now owns 1,521 shares of the company’s stock worth $83,000 after buying an additional 848 shares during the period. Legacy Wealth Asset Management LLC acquired a new stake in Parsons during the 3rd quarter worth $204,000. Blackston Financial Advisory Group LLC acquired a new stake in Parsons during the 4th quarter worth $205,000. Finally, Ingalls & Snyder LLC acquired a new stake in shares of Parsons in the 4th quarter valued at about $210,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Price Performance

Shares of NYSE PSN opened at $79.30 on Wednesday. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 55.85, a PEG ratio of 3.46 and a beta of 0.85. The business has a 50-day moving average of $80.43 and a 200-day moving average of $68.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.52. Parsons Co. has a fifty-two week low of $42.22 and a fifty-two week high of $85.44.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.13. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Parsons had a return on equity of 10.32% and a net margin of 2.96%. Parsons’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. As a group, sell-side analysts predict that Parsons Co. will post 2.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PSN. Truist Financial lifted their price target on Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Parsons in a research note on Thursday, April 4th. The Goldman Sachs Group lifted their price target on Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Robert W. Baird lifted their price target on Parsons from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, KeyCorp lifted their price target on Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.00.

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.