3,650 Shares in Parsons Co. (NYSE:PSN) Bought by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC purchased a new stake in shares of Parsons Co. (NYSE:PSN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,650 shares of the company’s stock, valued at approximately $299,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tanglewood Legacy Advisors LLC acquired a new position in shares of Parsons in the 2nd quarter valued at about $44,000. TFO Wealth Partners LLC lifted its position in Parsons by 18,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after buying an additional 728 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Parsons during the first quarter worth approximately $62,000. Blue Trust Inc. increased its position in shares of Parsons by 23.6% in the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after acquiring an additional 199 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Parsons in the 4th quarter valued at $91,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSN has been the subject of several recent research reports. Robert W. Baird increased their price target on Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $108.00 target price (up from $100.00) on shares of Parsons 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 report on Tuesday, June 25th. KeyCorp lifted their price objective on shares of Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Benchmark boosted their target price on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $94.67.

Parsons Price Performance

Shares of PSN stock opened at $100.97 on Wednesday. The firm has a fifty day moving average of $91.02 and a two-hundred day moving average of $83.31. The firm has a market cap of $10.72 billion, a P/E ratio of 560.98, a P/E/G ratio of 2.19 and a beta of 0.80. Parsons Co. has a 1-year low of $53.56 and a 1-year high of $101.69. 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 (NYSE:PSN) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.18. Parsons had a return on equity of 12.09% and a net margin of 0.89%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.53 billion. As a group, research analysts anticipate that Parsons Co. will post 2.88 earnings per share for the current fiscal 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.