Geode Capital Management LLC Has $80.15 Million Holdings in Parsons Co. (NYSE:PSN)

Geode Capital Management LLC boosted its stake in Parsons Co. (NYSE:PSN) by 14.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 772,808 shares of the company’s stock after purchasing an additional 95,040 shares during the period. Geode Capital Management LLC owned about 0.73% of Parsons worth $80,146,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PSN. State of New Jersey Common Pension Fund D bought a new stake in shares of Parsons during the 3rd quarter valued at about $2,172,000. Oppenheimer & Co. Inc. boosted its holdings in shares of Parsons by 37.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock worth $2,490,000 after buying an additional 6,577 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Parsons during the 3rd quarter worth approximately $1,004,000. Peregrine Asset Advisers Inc. bought a new stake in shares of Parsons in the 2nd quarter valued at $4,417,000. Finally, State Street Corp lifted its position in shares of Parsons by 60.6% during the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after acquiring an additional 616,707 shares during the period. 98.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

PSN has been the subject of several research analyst reports. Truist Financial decreased their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Raymond James downgraded 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. The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and raised their price objective for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. Robert W. Baird upped their target price on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, KeyCorp lifted their price target on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $108.88.

Parsons Trading Up 0.6 %

NYSE PSN opened at $95.68 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $10.16 billion, a P/E ratio of 144.97, a PEG ratio of 1.72 and a beta of 0.74. The business has a fifty day simple moving average of $102.14 and a 200 day simple moving average of $93.43. Parsons Co. has a 12 month low of $61.35 and a 12 month high of $114.68.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating 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 company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. On average, analysts predict that Parsons Co. will post 3.02 EPS 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.