6,332 Shares in Parsons Co. (NYSE:PSN) Purchased by Qsemble Capital Management LP

Qsemble Capital Management LP purchased a new position in shares of Parsons Co. (NYSE:PSN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,332 shares of the company’s stock, valued at approximately $518,000.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Parsons by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock worth $376,997,000 after purchasing an additional 421,085 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Parsons by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,393,813 shares of the company’s stock valued at $87,407,000 after acquiring an additional 105,648 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Parsons by 0.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,009,826 shares of the company’s stock valued at $82,614,000 after acquiring an additional 4,686 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Parsons by 22.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 694,704 shares of the company’s stock valued at $56,834,000 after acquiring an additional 128,061 shares during the last quarter. Finally, Norges Bank acquired a new stake in Parsons in the 4th quarter valued at about $37,854,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Ratings Changes

PSN has been the subject of several analyst reports. Stifel Nicolaus increased their price target on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Truist Financial reissued a “buy” rating and issued a $108.00 price target (up previously from $100.00) on shares of Parsons in a research note on Thursday, August 1st. KeyCorp increased their price target on shares of Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Benchmark increased their price target on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird increased their price target on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $94.67.

Parsons Stock Performance

NYSE:PSN opened at $98.21 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a market capitalization of $14.41 billion, a P/E ratio of 545.61, a PEG ratio of 2.06 and a beta of 0.80. The company has a 50 day moving average price of $88.16 and a 200 day moving average price of $82.44. Parsons Co. has a fifty-two week low of $53.56 and a fifty-two week high of $98.63.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.18. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.53 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. Equities research analysts forecast that Parsons Co. will post 2.88 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.