Susquehanna Fundamental Investments LLC Grows Stock Position in Parsons Co. (NYSE:PSN)

Susquehanna Fundamental Investments LLC increased its position in shares of Parsons Co. (NYSE:PSN) by 2,044.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 115,800 shares of the company’s stock after purchasing an additional 110,400 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Parsons were worth $9,474,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tanglewood Legacy Advisors LLC purchased a new stake in shares of Parsons during the 2nd quarter valued at approximately $44,000. TFO Wealth Partners LLC raised its position in shares of Parsons by 18,200.0% during the 4th 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 period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Parsons during the 1st quarter valued at approximately $62,000. Blue Trust Inc. increased its holdings in Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after purchasing an additional 199 shares during the last quarter. Finally, EntryPoint Capital LLC increased its holdings in Parsons by 17.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock valued at $111,000 after purchasing an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Benchmark lifted 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. Robert W. Baird lifted their target price on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and issued a $108.00 target price (up previously from $100.00) on shares of Parsons in a report on Thursday, August 1st. Stifel Nicolaus lifted their target price on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, KeyCorp lifted their target price on shares of Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $94.67.

Parsons Stock Performance

NYSE:PSN opened at $103.63 on Friday. The company has a fifty day simple moving average of $92.60 and a two-hundred day simple moving average of $83.75. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 575.75, a price-to-earnings-growth ratio of 2.18 and a beta of 0.80. The company has a quick ratio of 1.80, a current 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 $104.33.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.18. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. As a group, equities analysts anticipate that Parsons Co. will post 2.88 earnings per share for the current fiscal 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.