Canada Pension Plan Investment Board Has $6.38 Million Stock Position in Parsons Co. (NYSE:PSN)

Canada Pension Plan Investment Board boosted its holdings in shares of Parsons Co. (NYSE:PSN) by 269.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,000 shares of the company’s stock after acquiring an additional 56,900 shares during the quarter. Canada Pension Plan Investment Board owned 0.05% of Parsons worth $6,381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in Parsons by 162.5% during the first quarter. Principal Financial Group Inc. now owns 1,005,140 shares of the company’s stock valued at $83,376,000 after purchasing an additional 622,243 shares in the last quarter. Norges Bank acquired a new position in shares of Parsons in the fourth quarter worth $37,854,000. Vanguard Group Inc. increased its position in Parsons by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock worth $376,997,000 after purchasing an additional 421,085 shares during the last quarter. Hennessy Advisors Inc. bought a new position in Parsons during the fourth quarter valued at approximately $24,062,000. Finally, SW Investment Management LLC acquired a new position in shares of Parsons during the 4th quarter worth $20,381,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

PSN has been the topic of a number of analyst reports. Truist Financial reissued a “buy” rating and set a $108.00 price objective (up previously from $100.00) on shares of Parsons in a report on Thursday, August 1st. Robert W. Baird upped their price objective on shares of Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their target price on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Benchmark upped their price target on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, KeyCorp lifted their price objective on Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $94.67.

Parsons Stock Down 0.4 %

NYSE PSN opened at $100.97 on Wednesday. Parsons Co. has a twelve month low of $53.56 and a twelve month high of $101.69. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a market cap of $14.82 billion, a PE ratio of 560.94, a PEG ratio of 2.11 and a beta of 0.80. The firm has a 50-day simple moving average of $91.02 and a 200 day simple moving average of $83.31.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.18. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.53 billion. Parsons had a return on equity of 12.09% and a net margin of 0.89%. On average, research analysts forecast that Parsons Co. will post 2.88 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.