Quadrature Capital Ltd Grows Stock Position in Parsons Co. (NYSE:PSN)

Quadrature Capital Ltd raised its position in shares of Parsons Co. (NYSE:PSNFree Report) by 19.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,642 shares of the company’s stock after buying an additional 4,091 shares during the period. Quadrature Capital Ltd’s holdings in Parsons were worth $1,546,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in Parsons by 3.3% during the third quarter. Vanguard Group Inc. now owns 4,119,811 shares of the company’s stock worth $223,912,000 after buying an additional 131,617 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Parsons by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,393,813 shares of the company’s stock worth $87,407,000 after buying an additional 105,648 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Parsons by 9.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 927,251 shares of the company’s stock valued at $58,148,000 after acquiring an additional 77,010 shares during the last quarter. Norges Bank acquired a new stake in Parsons in the 4th quarter valued at about $37,854,000. Finally, Charles Schwab Investment Management Inc. raised its position in Parsons by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 569,651 shares of the company’s stock worth $35,723,000 after acquiring an additional 10,399 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PSN. KeyCorp boosted their target price on shares of Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Truist Financial raised their price objective on shares of Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group lifted their target price on shares of Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. TD Cowen upgraded Parsons from a “hold” rating to a “buy” rating and boosted their target price for the company from $77.00 to $90.00 in a research note on Friday, May 3rd. Finally, Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Parsons in a report on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $83.10.

Check Out Our Latest Research Report on PSN

Parsons Price Performance

PSN opened at $74.52 on Monday. The stock has a market capitalization of $10.94 billion, a P/E ratio of 414.02, a PEG ratio of 2.19 and a beta of 0.84. Parsons Co. has a 12-month low of $46.43 and a 12-month high of $85.44. The stock has a 50-day moving average price of $78.43 and a 200-day moving average price of $72.92. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Parsons (NYSE:PSNGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. Parsons had a net margin of 0.49% and a return on equity of 11.27%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Equities analysts predict that Parsons Co. will post 2.63 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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Institutional Ownership by Quarter for Parsons (NYSE:PSN)

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