Louisiana State Employees Retirement System Acquires Shares of 12,900 Parsons Co. (NYSE:PSN)

Louisiana State Employees Retirement System bought a new stake in shares of Parsons Co. (NYSE:PSN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,900 shares of the company’s stock, valued at approximately $1,337,000.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Parsons during the third quarter valued at approximately $33,000. Tanglewood Legacy Advisors LLC purchased a new position in shares of Parsons during the second quarter valued at approximately $44,000. Blue Trust Inc. boosted its position in shares of Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after buying an additional 199 shares during the last quarter. EntryPoint Capital LLC boosted its position in shares of Parsons by 17.2% during the first quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock valued at $111,000 after buying an additional 196 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Parsons by 109.9% during the first quarter. Covestor Ltd now owns 1,604 shares of the company’s stock valued at $133,000 after buying an additional 840 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of PSN opened at $108.72 on Friday. The firm has a market cap of $11.54 billion, a PE ratio of 164.73, a PEG ratio of 2.37 and a beta of 0.80. The stock’s fifty day moving average price is $101.84 and its two-hundred day moving average price is $88.03. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. Parsons Co. has a 1 year low of $60.38 and a 1 year high of $112.19.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.07. Parsons had a return on equity of 12.88% and a net margin of 1.21%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. On average, equities research analysts forecast that Parsons Co. will post 2.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. KeyCorp lifted their target price on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday. Raymond James cut Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective on the stock. in a research report on Wednesday, October 23rd. Truist Financial reissued a “buy” rating and issued a $108.00 price objective (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Benchmark boosted their price objective on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird boosted their price objective on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.11.

Parsons 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.