Charles Schwab Investment Management Inc. Has $43.51 Million Stake in Parsons Co. (NYSE:PSN)

Charles Schwab Investment Management Inc. cut its position in shares of Parsons Co. (NYSE:PSN) by 15.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 419,618 shares of the company’s stock after selling 78,514 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.40% of Parsons worth $43,506,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Wedge Capital Management L L P NC acquired a new stake in Parsons during the 3rd quarter worth about $62,514,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Parsons by 61.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after purchasing an additional 428,662 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Parsons during the 2nd quarter valued at about $29,302,000. Appian Way Asset Management LP grew its stake in Parsons by 649.9% during the second quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock worth $32,303,000 after purchasing an additional 342,200 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Parsons by 18.1% in the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock worth $123,685,000 after purchasing an additional 183,117 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Raymond James cut Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target on the stock. in a report on Wednesday, October 23rd. KeyCorp increased their target price on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Truist Financial decreased their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Robert W. Baird increased their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Parsons presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.13.

Parsons Stock Up 0.1 %

Shares of NYSE PSN opened at $95.91 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The company has a 50-day moving average price of $104.61 and a 200-day moving average price of $91.61. The stock has a market capitalization of $10.18 billion, a P/E ratio of 145.32, a P/E/G ratio of 1.71 and a beta of 0.80. Parsons Co. has a 1 year low of $61.10 and a 1 year high of $114.68.

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