Parsons Co. (NYSE:PSN) Shares Sold by Stifel Financial Corp

Stifel Financial Corp trimmed its position in Parsons Co. (NYSE:PSN) by 19.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,816 shares of the company’s stock after selling 5,824 shares during the period. Stifel Financial Corp’s holdings in Parsons were worth $2,573,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSN. True Wealth Design LLC bought a new stake in shares of Parsons in the 3rd quarter valued at approximately $30,000. V Square Quantitative Management LLC bought a new stake in Parsons during the third quarter valued at $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Parsons during the third quarter worth $45,000. DekaBank Deutsche Girozentrale bought a new position in shares of Parsons in the 3rd quarter worth about $72,000. Finally, Blue Trust Inc. lifted its position in shares of Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after buying an additional 199 shares during the last quarter. 98.02% of the stock is owned by institutional investors.

Parsons Stock Performance

PSN stock opened at $94.91 on Thursday. The company has a market capitalization of $10.08 billion, a P/E ratio of 143.81, a PEG ratio of 1.72 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. The company has a 50-day simple moving average of $102.57 and a 200 day simple moving average of $93.27. Parsons Co. has a fifty-two week low of $61.35 and a fifty-two week high of $114.68.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Truist Financial cut their target price 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 raised their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. KeyCorp upped their price objective on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and raised their target price for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. Finally, Raymond James lowered shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target for the company. in a research report on Wednesday, October 23rd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Parsons presently has a consensus rating of “Buy” and an average target price of $108.88.

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.