Janus Henderson Group PLC Increases Position in Parsons Co. (NYSE:PSN)

Janus Henderson Group PLC increased its stake in shares of Parsons Co. (NYSE:PSN) by 104.4% during the third quarter, Holdings Channel reports. The institutional investor owned 44,189 shares of the company’s stock after acquiring an additional 22,573 shares during the period. Janus Henderson Group PLC’s holdings in Parsons were worth $4,584,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its stake in shares of Parsons by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock worth $452,000 after acquiring an additional 90 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Parsons by 3.2% in the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock valued at $324,000 after purchasing an additional 96 shares during the last quarter. Chartwell Investment Partners LLC increased its position in shares of Parsons by 0.8% in the third 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 raised its stake in shares of Parsons by 2.7% during the 2nd quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock worth $471,000 after buying an additional 150 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after buying an additional 199 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Price Performance

PSN stock opened at $95.92 on Wednesday. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 145.33, a price-to-earnings-growth ratio of 1.75 and a beta of 0.74. 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 Co. has a 52-week low of $61.10 and a 52-week high of $114.68. The stock’s fifty day simple moving average is $103.95 and its 200-day simple moving average is $92.47.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Equities research 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 PSN shares. Truist Financial dropped their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Raymond James cut shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research note on Wednesday, October 23rd. Robert W. Baird upped their target price on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, KeyCorp raised their price target on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock 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.