Fmr LLC Acquires 155,991 Shares of Parsons Co. (NYSE:PSN)

Fmr LLC boosted its holdings in shares of Parsons Co. (NYSE:PSN) by 391.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 195,850 shares of the company’s stock after purchasing an additional 155,991 shares during the quarter. Fmr LLC owned about 0.18% of Parsons worth $20,306,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its holdings in Parsons by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock valued at $452,000 after purchasing an additional 90 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Parsons by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after purchasing an additional 96 shares during the last quarter. Chartwell Investment Partners LLC boosted its position in shares of Parsons by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock worth $1,507,000 after purchasing an additional 117 shares during the last quarter. AE Wealth Management LLC lifted its holdings in Parsons by 2.7% during the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock worth $471,000 after acquiring an additional 150 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Parsons by 23.6% during 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. Institutional investors own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

PSN has been the topic of several recent research reports. Truist Financial dropped their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Robert W. Baird lifted their price target on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. KeyCorp upped their target price on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Raymond James lowered Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective on the stock. in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.13.

Parsons Price Performance

Shares of NYSE PSN opened at $95.92 on Wednesday. Parsons Co. has a twelve month low of $61.10 and a twelve month high of $114.68. The stock’s 50 day moving average price is $103.95 and its 200-day moving average price is $92.47. The company has a market capitalization of $10.19 billion, a PE ratio of 145.33, a PEG ratio of 1.75 and a beta of 0.74. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

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

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.