Axa S.A. Lowers Position in Parsons Co. (NYSE:PSN)

Axa S.A. decreased its holdings in shares of Parsons Co. (NYSE:PSN) by 23.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 8,924 shares of the company’s stock after selling 2,699 shares during the period. Axa S.A.’s holdings in Parsons were worth $730,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Tanglewood Legacy Advisors LLC purchased a new position in Parsons during the second quarter valued at approximately $44,000. TFO Wealth Partners LLC boosted its position in Parsons by 18,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after acquiring an additional 728 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Parsons in the 1st quarter valued at $62,000. Blue Trust Inc. raised 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 acquiring an additional 199 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its stake in shares of Parsons by 17.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after purchasing an additional 196 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Analyst Upgrades and Downgrades

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

Parsons Stock Up 1.1 %

Parsons stock opened at $104.82 on Wednesday. Parsons Co. has a fifty-two week low of $53.56 and a fifty-two week high of $104.87. The company has a market cap of $15.38 billion, a PE ratio of 582.33, a PEG ratio of 2.18 and a beta of 0.80. 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 business’s 50-day simple moving average is $93.62 and its two-hundred day simple moving average is $84.10.

Parsons (NYSE:PSN) last issued its quarterly earnings results 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 the consensus estimate of $1.53 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. Equities analysts anticipate that Parsons Co. will post 2.88 EPS 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.