Oppenheimer Asset Management Inc. Acquires 867 Shares of Parsons Co. (NYSE:PSN)

Oppenheimer Asset Management Inc. raised its holdings in shares of Parsons Co. (NYSE:PSN) by 2.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,544 shares of the company’s stock after purchasing an additional 867 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Parsons were worth $2,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Private Advisor Group LLC increased its stake in shares of Parsons by 3.7% during the fourth quarter. Private Advisor Group LLC now owns 4,857 shares of the company’s stock valued at $305,000 after purchasing an additional 174 shares in the last quarter. EntryPoint Capital LLC increased its position in shares of Parsons by 17.2% during the first quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock valued at $111,000 after acquiring an additional 196 shares in the last quarter. Blue Trust Inc. increased its position 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Parsons by 2.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,992 shares of the company’s stock valued at $1,161,000 after acquiring an additional 311 shares in the last quarter. Finally, Petra Financial Advisors Inc. increased its position in shares of Parsons by 4.1% during the second quarter. Petra Financial Advisors Inc. now owns 9,142 shares of the company’s stock valued at $748,000 after acquiring an additional 357 shares in the last quarter. Institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Benchmark raised their price target on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their price target on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. KeyCorp raised their price target on shares of Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Truist Financial reissued 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. Finally, Robert W. Baird raised their price target on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $94.67.

Parsons Trading Up 0.4 %

Shares of PSN stock opened at $98.13 on Wednesday. Parsons Co. has a 12-month low of $53.56 and a 12-month high of $100.08. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average is $88.94 and its 200 day moving average is $82.70. The stock has a market capitalization of $10.42 billion, a P/E ratio of 545.20, a P/E/G ratio of 2.06 and a beta of 0.80.

Parsons (NYSE:PSN) last issued its quarterly 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. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. Research analysts expect that Parsons Co. will post 2.88 earnings per share for the current year.

About Parsons

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.