Vanguard Group Inc. Raises Stock Position in Parsons Co. (NYSE:PSN)

Vanguard Group Inc. grew its holdings in shares of Parsons Co. (NYSE:PSN) by 0.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,123,781 shares of the company’s stock after acquiring an additional 3,970 shares during the quarter. Vanguard Group Inc.’s holdings in Parsons were worth $258,602,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PSN. Norges Bank purchased a new stake in Parsons during the fourth quarter valued at approximately $37,854,000. SW Investment Management LLC purchased a new stake in Parsons during the 4th quarter valued at $20,381,000. Axiom Investors LLC DE bought a new stake in Parsons in the fourth quarter worth $10,309,000. Dimensional Fund Advisors LP boosted its stake in Parsons by 8.2% during the fourth 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 during the period. Finally, Envestnet Asset Management Inc. increased its position in Parsons by 170.6% during the third quarter. Envestnet Asset Management Inc. now owns 166,192 shares of the company’s stock valued at $9,033,000 after acquiring an additional 104,765 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Parsons Trading Down 0.2 %

NYSE:PSN opened at $81.81 on Monday. The firm has a 50 day moving average of $77.69 and a 200 day moving average of $74.52. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Parsons Co. has a 52 week low of $46.85 and a 52 week high of $85.44. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 454.53, a PEG ratio of 2.40 and a beta of 0.84.

Parsons (NYSE:PSN) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.37 billion. As a group, sell-side analysts anticipate that Parsons Co. will post 2.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PSN has been the subject of several analyst reports. Truist Financial raised 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 Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Stifel Nicolaus increased their price target on Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. 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. Finally, TD Cowen raised Parsons from a “hold” rating to a “buy” rating and upped their price objective for the company from $77.00 to $90.00 in a research report on Friday, May 3rd. One investment 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 stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price 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.