AQR Capital Management LLC Buys 32,064 Shares of Parsons Co. (NYSE:PSN)

AQR Capital Management LLC boosted its stake in Parsons Co. (NYSE:PSN) by 118.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,170 shares of the company’s stock after acquiring an additional 32,064 shares during the period. AQR Capital Management LLC owned 0.06% of Parsons worth $4,841,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tanglewood Legacy Advisors LLC bought a new stake in shares of Parsons in the 2nd quarter valued at $44,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Parsons during the first quarter valued at $62,000. Blue Trust Inc. grew its holdings in Parsons by 23.6% during 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 during the period. Neo Ivy Capital Management bought a new position in shares of Parsons in the 4th quarter worth about $91,000. Finally, EntryPoint Capital LLC raised its position in shares of Parsons by 17.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after acquiring an additional 196 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Up 0.7 %

Shares of NYSE PSN opened at $106.70 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. The company has a 50-day moving average price of $95.34 and a 200-day moving average price of $84.60. The stock has a market capitalization of $15.66 billion, a P/E ratio of 592.78, a P/E/G ratio of 2.24 and a beta of 0.80. Parsons Co. has a 1 year low of $54.46 and a 1 year high of $107.00.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.18. The firm had revenue of $1.67 billion during 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, equities research analysts forecast that Parsons Co. will post 2.88 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on PSN shares. Stifel Nicolaus raised their target price on Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. KeyCorp lifted their price objective on shares of Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Benchmark increased their target price on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and issued a $108.00 price target (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Finally, Robert W. Baird raised their target price on Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research note 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $94.67.

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.