MetLife Investment Management LLC Grows Stake in Parsons Co. (NYSE:PSN)

MetLife Investment Management LLC increased its holdings in shares of Parsons Co. (NYSE:PSN) by 2,846.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,130 shares of the company’s stock after purchasing an additional 23,311 shares during the quarter. MetLife Investment Management LLC’s holdings in Parsons were worth $2,502,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Fisher Asset Management LLC grew its position in shares of Parsons by 2.1% during the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock worth $452,000 after purchasing an additional 90 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Parsons by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock valued at $324,000 after buying an additional 96 shares in the last quarter. Chartwell Investment Partners LLC grew its holdings in Parsons by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after buying an additional 117 shares in the last quarter. AE Wealth Management LLC grew its holdings in Parsons by 2.7% during the 2nd quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock valued at $471,000 after buying an additional 150 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after buying an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Price Performance

Shares of Parsons stock opened at $99.04 on Thursday. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 150.06, a price-to-earnings-growth ratio of 1.71 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a 50 day moving average price of $104.30 and a 200-day moving average price of $91.93. Parsons Co. has a one year low of $61.10 and a one year high of $114.68.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Equities analysts expect that Parsons Co. will post 3.02 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Robert W. Baird raised their price target on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. KeyCorp raised their price target on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Raymond James cut Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target for the company. in a report on Wednesday, October 23rd. Finally, Truist Financial dropped their target price on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.13.

Parsons Company 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.