SG Americas Securities LLC Reduces Position in Parsons Co. (NYSE:PSN)

SG Americas Securities LLC reduced its stake in Parsons Co. (NYSE:PSN) by 94.7% during the 2nd quarter, Holdings Channel reports. The fund owned 2,104 shares of the company’s stock after selling 37,482 shares during the period. SG Americas Securities LLC’s holdings in Parsons were worth $172,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PSN. TFO Wealth Partners LLC raised its stake in Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after purchasing an additional 728 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Parsons in the first quarter valued at approximately $62,000. Psagot Value Holdings Ltd. Israel lifted its stake in shares of Parsons by 700.0% during 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 period. Neo Ivy Capital Management acquired a new stake in Parsons during the fourth quarter worth approximately $91,000. Finally, EntryPoint Capital LLC grew its stake in Parsons by 17.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after acquiring an additional 196 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PSN. Truist Financial reissued a “buy” rating and set a $108.00 price target (up previously from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Robert W. Baird raised their price target on Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Raymond James raised shares of Parsons from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $82.00 to $95.00 in a research note on Wednesday, May 1st. TD Cowen raised shares of Parsons from a “hold” rating to a “buy” rating and raised their target price for the stock from $77.00 to $90.00 in a research report on Friday, May 3rd. Finally, Benchmark boosted their target price on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $94.67.

Parsons Stock Performance

Shares of PSN stock opened at $94.61 on Friday. The company’s fifty day simple moving average is $83.64 and its 200-day simple moving average is $80.23. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.54. Parsons Co. has a 52 week low of $53.56 and a 52 week high of $95.88. The company has a market cap of $10.05 billion, a PE ratio of 525.64, a P/E/G ratio of 2.06 and a beta of 0.81.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.59 by $0.18. Parsons had a return on equity of 12.09% and a net margin of 0.89%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.53 billion. As a group, equities research analysts anticipate that Parsons Co. will post 2.81 EPS for the current year.

About Parsons

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.