Thrivent Financial for Lutherans Takes $1.14 Million Position in Parsons Co. (NYSE:PSN)

Thrivent Financial for Lutherans acquired a new position in shares of Parsons Co. (NYSE:PSN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,976 shares of the company’s stock, valued at approximately $1,138,000.

Other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Parsons in the third quarter worth about $33,000. Tanglewood Legacy Advisors LLC bought a new position in Parsons in the 2nd quarter valued at approximately $44,000. Capital Performance Advisors LLP bought a new position in Parsons in the 3rd quarter valued at approximately $45,000. DekaBank Deutsche Girozentrale acquired a new stake in Parsons in the third quarter valued at approximately $72,000. Finally, Blue Trust Inc. grew its stake in shares of Parsons by 23.6% during 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 last quarter. 98.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PSN. Robert W. Baird upped their target price on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. KeyCorp upped their price objective on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Truist Financial cut their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Raymond James cut shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target for the company. in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.13.

Parsons Stock Up 0.1 %

PSN stock opened at $95.91 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. Parsons Co. has a fifty-two week low of $61.10 and a fifty-two week high of $114.68. The stock’s 50 day simple moving average is $104.61 and its 200 day simple moving average is $91.61. The company has a market cap of $10.18 billion, a P/E ratio of 145.32, a price-to-earnings-growth ratio of 1.71 and a beta of 0.80.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. On average, research analysts expect that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

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.