New York State Teachers Retirement System Buys New Stake in Parsons Co. (NYSE:PSN)

New York State Teachers Retirement System bought a new position in Parsons Co. (NYSE:PSN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,708 shares of the company’s stock, valued at approximately $1,110,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSN. Janney Montgomery Scott LLC purchased a new position in Parsons during the 1st quarter valued at about $1,451,000. SG Americas Securities LLC grew its position in Parsons by 872.4% in the 1st quarter. SG Americas Securities LLC now owns 39,586 shares of the company’s stock worth $3,284,000 after purchasing an additional 35,515 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Parsons in the 1st quarter worth approximately $1,064,000. Susquehanna Fundamental Investments LLC acquired a new position in Parsons in the first quarter worth about $448,000. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. grew its holdings in shares of Parsons by 2.8% in the 1st quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 115,911 shares of the company’s stock worth $9,615,000 after purchasing an additional 3,154 shares during the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSN has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. KeyCorp boosted their price objective on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Truist Financial reissued a “buy” rating and issued a $108.00 price objective (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Raymond James downgraded shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research report on Wednesday, October 23rd. Finally, Benchmark lifted their target price on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Parsons currently has an average rating of “Moderate Buy” and a consensus target price of $102.11.

Parsons Trading Up 2.2 %

Shares of PSN opened at $112.69 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. Parsons Co. has a 52-week low of $61.10 and a 52-week high of $114.68. The firm has a market cap of $11.97 billion, a price-to-earnings ratio of 170.75, a PEG ratio of 2.28 and a beta of 0.80. The business’s fifty day moving average is $103.45 and its 200-day moving average is $89.17.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Equities analysts anticipate that Parsons Co. will post 3.02 EPS 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.