2,689 Shares in Parsons Co. (NYSE:PSN) Acquired by Diversified Trust Co

Diversified Trust Co bought a new stake in shares of Parsons Co. (NYSE:PSN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,689 shares of the company’s stock, valued at approximately $279,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tanglewood Legacy Advisors LLC bought a new stake in shares of Parsons during the 2nd quarter worth $44,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Parsons during the first quarter worth about $62,000. Blue Trust Inc. increased its position in shares of 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 purchasing an additional 199 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Parsons during the 4th quarter valued at about $91,000. Finally, EntryPoint Capital LLC raised its holdings in shares of Parsons by 17.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock valued at $111,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Trading Up 1.9 %

PSN opened at $107.05 on Friday. Parsons Co. has a one year low of $55.22 and a one year high of $107.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. The business has a 50 day simple moving average of $97.15 and a two-hundred day simple moving average of $85.25. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 248.96, a PEG ratio of 2.31 and a beta of 0.80.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.18. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.53 billion. Parsons had a return on equity of 12.09% and a net margin of 0.89%. Analysts predict that Parsons Co. will post 2.88 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PSN. Robert W. Baird increased their price target on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their target price on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. KeyCorp boosted their price target on shares of Parsons from $99.00 to $116.00 and gave the stock an “overweight” rating in a research note on Tuesday. Benchmark raised their price objective on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial reissued a “buy” rating and issued a $108.00 target price (up previously from $100.00) on shares of Parsons in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $96.78.

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.