New York State Common Retirement Fund Sells 45,494 Shares of Parsons Co. (NYSE:PSN)

New York State Common Retirement Fund cut its stake in shares of Parsons Co. (NYSE:PSN) by 18.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,536 shares of the company’s stock after selling 45,494 shares during the period. New York State Common Retirement Fund’s holdings in Parsons were worth $20,481,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Parsons during the 3rd quarter valued at $33,000. Tanglewood Legacy Advisors LLC purchased a new stake in shares of Parsons during the 2nd quarter valued at $44,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Parsons during the 3rd quarter valued at $72,000. 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. Finally, EntryPoint Capital LLC increased its position 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 purchasing an additional 196 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Stock Up 0.8 %

PSN stock opened at $109.61 on Tuesday. The company has a quick ratio of 1.80, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $11.64 billion, a PE ratio of 166.08, a PEG ratio of 2.33 and a beta of 0.80. Parsons Co. has a twelve month low of $61.09 and a twelve month high of $112.19. The stock has a 50-day simple moving average of $102.13 and a two-hundred day simple moving average of $88.38.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. On average, equities analysts predict that Parsons Co. will post 2.89 EPS for the current fiscal year.

Analysts Set New Price Targets

PSN has been the subject of several research analyst reports. Benchmark raised their target price on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. KeyCorp lifted their price objective on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Raymond James lowered Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a report on Wednesday, October 23rd. Robert W. Baird lifted their price objective on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Truist Financial reissued a “buy” rating and issued a $108.00 price objective (up previously from $100.00) on shares of Parsons in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.11.

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.