DekaBank Deutsche Girozentrale Makes New Investment in Parsons Co. (NYSE:PSN)

DekaBank Deutsche Girozentrale purchased a new stake in shares of Parsons Co. (NYSE:PSN) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 697 shares of the company’s stock, valued at approximately $72,000.

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Parsons during the 3rd quarter valued at $33,000. Tanglewood Legacy Advisors LLC bought a new position in shares of Parsons during the second quarter valued at about $44,000. Blue Trust Inc. increased its holdings in shares of Parsons by 23.6% in the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after buying an additional 199 shares during the period. EntryPoint Capital LLC lifted its stake in shares of 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 acquiring an additional 196 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Parsons by 109.9% during the 1st quarter. Covestor Ltd now owns 1,604 shares of the company’s stock valued at $133,000 after acquiring an additional 840 shares during the period. 98.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSN has been the topic of a number of analyst reports. Raymond James cut Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target on the stock. in a research note on Wednesday, October 23rd. Benchmark upped their price target 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 raised their price target on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial restated 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. Finally, KeyCorp increased their target price on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Parsons currently has a consensus rating of “Moderate Buy” and an average target price of $102.11.

Parsons Trading Up 0.5 %

Shares of PSN opened at $108.69 on Monday. Parsons Co. has a 1-year low of $60.38 and a 1-year high of $112.19. The company has a current ratio of 1.55, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $101.84 and its 200-day moving average price is $88.16. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 164.68, a PEG ratio of 2.33 and a beta of 0.80.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Sell-side analysts anticipate that Parsons Co. will post 2.89 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.