Parsons Co. (NYSE:PSN) Shares Sold by First Bank & Trust

First Bank & Trust decreased its holdings in Parsons Co. (NYSE:PSN) by 4.5% during the 1st quarter, HoldingsChannel reports. The fund owned 3,940 shares of the company’s stock after selling 185 shares during the quarter. First Bank & Trust’s holdings in Parsons were worth $327,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new position in shares of Parsons in the third quarter worth about $38,000. TFO Wealth Partners LLC increased its holdings in Parsons by 18,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after buying an additional 728 shares during the last quarter. Psagot Value Holdings Ltd. Israel increased its holdings in Parsons by 700.0% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after buying an additional 973 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Parsons in the fourth quarter valued at about $91,000. Finally, Salem Investment Counselors Inc. increased its holdings in Parsons by 339.2% in the first quarter. Salem Investment Counselors Inc. now owns 2,376 shares of the company’s stock valued at $197,000 after buying an additional 1,835 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Down 0.2 %

PSN opened at $81.81 on Friday. Parsons Co. has a 12 month low of $46.85 and a 12 month high of $85.44. 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 stock has a market cap of $12.01 billion, a P/E ratio of 454.53, a P/E/G ratio of 2.40 and a beta of 0.84. The stock’s 50 day moving average price is $77.69 and its 200 day moving average price is $74.44.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, May 1st. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Parsons had a return on equity of 11.27% and a net margin of 0.49%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.37 billion. As a group, research analysts predict that Parsons Co. will post 2.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Robert W. Baird boosted their price objective on Parsons from $85.00 to $89.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. TD Cowen raised Parsons from a “hold” rating to a “buy” rating and boosted their price objective for the company from $77.00 to $90.00 in a report on Friday, May 3rd. Stifel Nicolaus upped their target price on Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Truist Financial upped their target price on Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Parsons in a report on Thursday, April 4th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Parsons currently has a consensus rating of “Buy” and an average price target of $85.50.

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.