KLP Kapitalforvaltning AS Buys 800 Shares of Parsons Corporation $PSN

KLP Kapitalforvaltning AS increased its holdings in shares of Parsons Corporation (NYSE:PSN) by 7.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,900 shares of the company’s stock after purchasing an additional 800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Parsons were worth $782,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PSN. CWM LLC raised its holdings in shares of Parsons by 2.1% during the first quarter. CWM LLC now owns 7,810 shares of the company’s stock worth $462,000 after purchasing an additional 163 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of Parsons by 1.8% during the first quarter. New York State Teachers Retirement System now owns 11,317 shares of the company’s stock worth $670,000 after purchasing an additional 200 shares during the last quarter. Roanoke Asset Management Corp NY raised its holdings in shares of Parsons by 0.5% during the first quarter. Roanoke Asset Management Corp NY now owns 38,935 shares of the company’s stock worth $2,305,000 after purchasing an additional 200 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Parsons by 63.1% during the first quarter. Signaturefd LLC now owns 610 shares of the company’s stock worth $36,000 after purchasing an additional 236 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Parsons by 23.0% during the second quarter. GAMMA Investing LLC now owns 1,277 shares of the company’s stock worth $92,000 after purchasing an additional 239 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Stock Performance

NYSE:PSN opened at $83.16 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 4.42 and a beta of 0.64. The company’s 50-day moving average is $80.86 and its two-hundred day moving average is $72.85. Parsons Corporation has a 1-year low of $54.56 and a 1-year high of $114.68.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Parsons had a net margin of 3.70% and a return on equity of 12.36%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the business posted $0.84 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. Analysts forecast that Parsons Corporation will post 3.58 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Parsons in a report on Wednesday, October 8th. Robert W. Baird lifted their price objective on shares of Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Baird R W raised shares of Parsons from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. KeyCorp boosted their target price on shares of Parsons from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Finally, Truist Financial boosted their target price on shares of Parsons from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Parsons currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.80.

Parsons Company Profile

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.