Tidal Investments LLC Purchases 4,220 Shares of Parsons Co. (NYSE:PSN)

Tidal Investments LLC grew its holdings in shares of Parsons Co. (NYSE:PSN) by 140.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,214 shares of the company’s stock after acquiring an additional 4,220 shares during the quarter. Tidal Investments LLC’s holdings in Parsons were worth $748,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its position in Parsons by 60.6% in the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after purchasing an additional 616,707 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Parsons in the third quarter worth about $62,514,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Parsons by 61.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after acquiring an additional 428,662 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Parsons during the 2nd quarter valued at about $29,302,000. Finally, Appian Way Asset Management LP grew its position in Parsons by 649.9% during the 2nd quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock worth $32,303,000 after acquiring an additional 342,200 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Parsons Trading Up 0.6 %

Shares of PSN opened at $95.68 on Friday. Parsons Co. has a 1-year low of $61.35 and a 1-year high of $114.68. 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 firm’s 50-day moving average price is $102.14 and its 200-day moving average price is $93.56. The firm 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 (NYSE:PSN) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Sell-side analysts anticipate that Parsons Co. will post 3.02 EPS 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.