Creative Planning boosted its stake in Parsons Co. (NYSE:PSN – Free Report) by 42.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,381 shares of the company’s stock after purchasing an additional 2,198 shares during the period. Creative Planning’s holdings in Parsons were worth $604,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in PSN. Tanglewood Legacy Advisors LLC acquired a new stake in Parsons during the 2nd quarter worth about $44,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Parsons in the first quarter valued at approximately $62,000. Blue Trust Inc. boosted its holdings in shares of Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after buying an additional 199 shares in the last quarter. EntryPoint Capital LLC grew 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 worth $111,000 after buying an additional 196 shares during the period. Finally, Covestor Ltd increased its stake in shares of Parsons by 109.9% in the 1st quarter. Covestor Ltd now owns 1,604 shares of the company’s stock valued at $133,000 after acquiring an additional 840 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on PSN. Benchmark raised their price target on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price target on Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Robert W. Baird raised their price objective on Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and set a $108.00 target price (up from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Finally, KeyCorp increased their target price on Parsons from $99.00 to $116.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Parsons has an average rating of “Buy” and a consensus target price of $96.78.
Check Out Our Latest Stock Analysis on Parsons
Parsons Price Performance
PSN opened at $107.05 on Monday. The firm’s fifty day moving average price is $97.51 and its two-hundred day moving average price is $85.47. The company has a market capitalization of $15.71 billion, a price-to-earnings ratio of 594.72, a P/E/G ratio of 2.31 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. Parsons Co. has a 1 year low of $55.22 and a 1 year high of $107.67.
Parsons (NYSE:PSN – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.59 by $0.18. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.53 billion. As a group, analysts anticipate that Parsons Co. will post 2.88 earnings per share for the current fiscal year.
Parsons Company 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.