Parsons Co. (NYSE:PSN) Shares Sold by Barclays PLC

Barclays PLC reduced its stake in shares of Parsons Co. (NYSE:PSN) by 69.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 47,962 shares of the company’s stock after selling 110,455 shares during the period. Barclays PLC’s holdings in Parsons were worth $4,973,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSN. True Wealth Design LLC purchased a new stake in shares of Parsons in the third quarter worth about $30,000. V Square Quantitative Management LLC acquired a new position in Parsons in the third quarter valued at approximately $33,000. Capital Performance Advisors LLP purchased a new stake in Parsons in the 3rd quarter worth approximately $45,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Parsons during the 3rd quarter worth approximately $72,000. Finally, Optimum Investment Advisors purchased a new position in shares of Parsons during the 3rd quarter valued at approximately $145,000. 98.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. KeyCorp increased their price target on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Raymond James lowered shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price on the stock. in a research note on Wednesday, October 23rd. The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and lifted their price target for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. Truist Financial lowered their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, TD Cowen upgraded Parsons to a “strong-buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $108.88.

Parsons Stock Up 0.6 %

Shares of PSN opened at $95.68 on Friday. The stock has a 50 day moving average price of $102.14 and a 200 day moving average price of $93.43. 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 market capitalization of $10.16 billion, a price-to-earnings ratio of 144.97, a PEG ratio of 1.72 and a beta of 0.74. Parsons Co. has a one year low of $61.35 and a one year high of $114.68.

Parsons (NYSE:PSN) last posted its quarterly 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. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. Equities research analysts forecast 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.