Parsons Co. (NYSE:PSN) Shares Sold by Clarus Wealth Advisors

Clarus Wealth Advisors cut its holdings in Parsons Co. (NYSE:PSN) by 19.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,602 shares of the company’s stock after selling 617 shares during the period. Clarus Wealth Advisors’ holdings in Parsons were worth $209,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PSN. DekaBank Deutsche Girozentrale acquired a new position in Parsons during the 3rd quarter valued at about $38,000. TFO Wealth Partners LLC lifted its stake in shares of Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after acquiring an additional 728 shares during the period. Psagot Value Holdings Ltd. Israel lifted its stake in shares of Parsons by 700.0% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock worth $70,000 after acquiring an additional 973 shares during the period. Covestor Ltd lifted its stake in shares of Parsons by 126.0% in the 3rd quarter. Covestor Ltd now owns 1,521 shares of the company’s stock worth $83,000 after acquiring an additional 848 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Parsons in the 4th quarter worth approximately $91,000. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. TD Cowen raised shares of Parsons from a “hold” rating to a “buy” rating and upped their price target for the stock from $77.00 to $90.00 in a research note on Friday, May 3rd. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Parsons in a report on Thursday, April 4th. Truist Financial boosted their target price on shares of Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. KeyCorp boosted their target price on shares of Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Raymond James upgraded shares of Parsons from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $82.00 to $95.00 in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $83.10.

Parsons Stock Down 0.7 %

PSN stock opened at $78.09 on Friday. Parsons Co. has a 52-week low of $46.68 and a 52-week high of $85.44. The company’s 50 day simple moving average is $77.40 and its 200-day simple moving average is $73.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market capitalization of $11.46 billion, a P/E ratio of 433.86, a P/E/G ratio of 2.31 and a beta of 0.84.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.37 billion. As a group, equities research analysts anticipate that Parsons Co. will post 2.63 EPS for the current year.

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.