Wealth Enhancement Advisory Services LLC Has $592,000 Stock Holdings in Parsons Co. (NYSE:PSN)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Parsons Co. (NYSE:PSN) by 63.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,707 shares of the company’s stock after buying an additional 2,209 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Parsons were worth $592,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Parsons in the third quarter worth about $33,000. Tanglewood Legacy Advisors LLC acquired a new stake in shares of Parsons in the 2nd quarter valued at $44,000. Blue Trust Inc. lifted its stake in shares of Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after acquiring an additional 199 shares during the period. EntryPoint Capital LLC raised its holdings in Parsons by 17.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after purchasing an additional 196 shares during the last quarter. Finally, Optimum Investment Advisors acquired a new position in Parsons during the 3rd quarter valued at about $145,000. Institutional investors own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of Parsons stock opened at $110.23 on Friday. The stock’s fifty day simple moving average is $103.11 and its 200 day simple moving average is $88.93. 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 company has a market capitalization of $11.71 billion, a PE ratio of 167.02, a PEG ratio of 2.36 and a beta of 0.80. Parsons Co. has a 12 month low of $61.10 and a 12 month high of $114.68.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PSN shares. Truist Financial reiterated a “buy” rating and set a $108.00 price target (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Robert W. Baird lifted their target price on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Benchmark increased their price target on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Raymond James lowered Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target on the stock. in a research report on Wednesday, October 23rd. Finally, KeyCorp upped their price objective on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Parsons currently 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.