6,137 Shares in Parsons Co. (NYSE:PSN) Acquired by Merit Financial Group LLC

Merit Financial Group LLC bought a new stake in Parsons Co. (NYSE:PSN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,137 shares of the company’s stock, valued at approximately $566,000.

A number of other hedge funds have also recently added to or reduced their stakes in PSN. Fisher Asset Management LLC increased its holdings in Parsons by 2.1% in the third 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 during the period. CIBC Asset Management Inc increased its stake in Parsons by 3.2% in the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock valued at $324,000 after purchasing an additional 96 shares in the last quarter. Chartwell Investment Partners LLC boosted its holdings in Parsons by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock worth $1,507,000 after acquiring an additional 117 shares in the last quarter. AE Wealth Management LLC raised 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 buying an additional 150 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PSN. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Truist Financial reduced their target price 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. TD Cowen cut their price target on Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Robert W. Baird boosted their price target on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, KeyCorp lowered their price target on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.25.

Parsons Trading Down 10.0 %

Shares of PSN stock opened at $85.34 on Friday. The business has a 50-day moving average of $95.10 and a 200 day moving average of $95.99. Parsons Co. has a 1-year low of $64.33 and a 1-year high of $114.68. 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 stock has a market capitalization of $9.06 billion, a PE ratio of 129.31, a P/E/G ratio of 1.44 and a beta of 0.74.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. The company 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%. As a group, sell-side analysts anticipate that Parsons Co. will post 3.02 earnings per share for the current 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.