Thrivent Financial for Lutherans Takes Position in Parsons Co. (NYSE:PSN)

Thrivent Financial for Lutherans bought a new position in shares of Parsons Co. (NYSE:PSN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,976 shares of the company’s stock, valued at approximately $1,138,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D acquired a new position in shares of Parsons during the 3rd quarter worth about $2,172,000. Oppenheimer & Co. Inc. increased its position in Parsons by 37.7% during the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock worth $2,490,000 after buying an additional 6,577 shares during the last quarter. Aigen Investment Management LP bought a new stake in Parsons in the third quarter valued at approximately $1,004,000. Tidal Investments LLC acquired a new stake in shares of Parsons in the first quarter valued at approximately $853,000. Finally, Peregrine Asset Advisers Inc. bought a new position in shares of Parsons during the 2nd quarter worth approximately $4,417,000. 98.02% of the stock is owned by institutional investors.

Parsons Stock Up 0.1 %

Shares of PSN opened at $95.91 on Monday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons Co. has a 12 month low of $61.10 and a 12 month high of $114.68. The firm’s 50 day moving average is $104.61 and its 200-day moving average is $91.61. The stock has a market capitalization of $10.18 billion, a PE ratio of 145.32, a P/E/G ratio of 1.71 and a beta of 0.80.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Equities research analysts forecast that Parsons Co. will post 3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PSN. Truist Financial decreased their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Robert W. Baird upped their price target on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. 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, KeyCorp upped their target price on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Parsons presently has an average rating of “Moderate Buy” and an average target price of $105.13.

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.