State of Alaska Department of Revenue Makes New $561,000 Investment in Parsons Co. (NYSE:PSN)

State of Alaska Department of Revenue acquired a new stake in Parsons Co. (NYSE:PSN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,420 shares of the company’s stock, valued at approximately $561,000.

A number of other hedge funds also recently made changes to their positions in PSN. DekaBank Deutsche Girozentrale acquired a new stake in Parsons during the 3rd quarter valued at approximately $72,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Parsons by 63.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,707 shares of the company’s stock valued at $592,000 after buying an additional 2,209 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Parsons during the third quarter worth approximately $1,337,000. Allworth Financial LP increased its stake in shares of Parsons by 43.6% in the third quarter. Allworth Financial LP now owns 6,585 shares of the company’s stock worth $683,000 after buying an additional 1,999 shares during the last quarter. Finally, BayBridge Capital Group LLC acquired a new stake in Parsons in the third quarter valued at $580,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of PSN stock opened at $110.23 on Friday. The company has a market cap of $11.71 billion, a P/E ratio of 167.02, a PEG ratio of 2.36 and a beta of 0.80. The business has a 50 day moving average of $103.11 and a two-hundred day moving average of $88.93. Parsons Co. has a 52 week low of $61.10 and a 52 week high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, analysts anticipate that Parsons Co. will post 2.89 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Benchmark raised their price objective on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and issued a $108.00 price target (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Robert W. Baird boosted their price objective on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price on the stock. in a report on Wednesday, October 23rd. Finally, KeyCorp lifted their target price on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.11.

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.