2,063 Shares in Parsons Co. (NYSE:PSN) Bought by Net Worth Advisory Group

Net Worth Advisory Group purchased a new stake in shares of Parsons Co. (NYSE:PSN) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,063 shares of the company’s stock, valued at approximately $214,000.

Several other institutional investors have also bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Parsons during the 3rd quarter valued at about $33,000. Tanglewood Legacy Advisors LLC purchased a new position in shares of Parsons in the 2nd quarter worth approximately $44,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Parsons during the 1st quarter valued at approximately $62,000. Blue Trust Inc. raised 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 during the period. Finally, EntryPoint Capital LLC lifted its position in Parsons by 17.2% in the first quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after buying an additional 196 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PSN. Robert W. Baird increased their target price on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Benchmark increased their price objective on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price on Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Truist Financial reaffirmed a “buy” rating and set a $108.00 target price (up previously from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Finally, KeyCorp raised their price target on Parsons from $99.00 to $116.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $96.78.

Parsons Stock Down 0.5 %

Shares of NYSE PSN opened at $107.44 on Tuesday. Parsons Co. has a 52-week low of $55.22 and a 52-week high of $109.55. The firm has a market capitalization of $15.77 billion, a price-to-earnings ratio of 596.89, a PEG ratio of 2.33 and a beta of 0.80. The stock has a 50 day moving average price of $99.59 and a 200 day moving average price of $86.53. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, July 31st. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.18. Parsons had a return on equity of 12.09% and a net margin of 0.89%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Sell-side analysts expect that Parsons Co. will post 2.88 earnings per share for the current 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.