Parsons Co. (NYSE:PSN) Shares Bought by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC boosted its stake in shares of Parsons Co. (NYSE:PSN) by 2,044.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 115,800 shares of the company’s stock after purchasing an additional 110,400 shares during the period. Susquehanna Fundamental Investments LLC owned approximately 0.11% of Parsons worth $9,474,000 at the end of the most recent quarter.

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

Parsons Trading Up 0.0 %

Shares of Parsons stock opened at $103.63 on Friday. 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 price is $92.60 and its 200 day moving average price is $83.75. Parsons Co. has a twelve month low of $53.56 and a twelve month high of $104.33. The firm has a market capitalization of $11.00 billion, a PE ratio of 575.75, a P/E/G ratio of 2.18 and a beta of 0.80.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, July 31st. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.18. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.53 billion. On average, sell-side analysts predict that Parsons Co. will post 2.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PSN shares. KeyCorp raised their target price on Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Benchmark raised their target price on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Truist Financial restated 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. Robert W. Baird raised their target price on Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, 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 note on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Parsons currently has a consensus rating of “Buy” and a consensus price target of $94.67.

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.