Parsons Co. (NYSE:PSN) Shares Acquired by Strs Ohio

Strs Ohio increased its stake in Parsons Co. (NYSE:PSNFree Report) by 31.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,800 shares of the company’s stock after acquiring an additional 3,800 shares during the quarter. Strs Ohio’s holdings in Parsons were worth $990,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Parsons by 3.3% in the third quarter. Vanguard Group Inc. now owns 4,119,811 shares of the company’s stock worth $223,912,000 after buying an additional 131,617 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Parsons by 9.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 927,251 shares of the company’s stock worth $58,148,000 after buying an additional 77,010 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Parsons by 40.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 559,252 shares of the company’s stock worth $30,395,000 after buying an additional 161,592 shares during the period. Legal & General Group Plc boosted its position in shares of Parsons by 5.8% in the third quarter. Legal & General Group Plc now owns 536,292 shares of the company’s stock worth $29,147,000 after buying an additional 29,225 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Parsons in the third quarter worth $27,952,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Price Performance

Shares of NYSE:PSN opened at $79.30 on Wednesday. Parsons Co. has a fifty-two week low of $42.22 and a fifty-two week high of $85.44. The business has a 50-day moving average of $80.43 and a two-hundred day moving average of $68.78. The stock has a market capitalization of $8.39 billion, a P/E ratio of 55.85, a P/E/G ratio of 3.46 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.52.

Parsons (NYSE:PSNGet Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. Parsons had a return on equity of 10.32% and a net margin of 2.96%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. On average, equities research analysts predict that Parsons Co. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. KeyCorp lifted their price objective on Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Robert W. Baird lifted their price objective on Parsons from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. The Goldman Sachs Group lifted their price objective on Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial lifted their price objective on Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, Benchmark reissued a “buy” rating and set a $68.00 price objective on shares of Parsons in a research report on Thursday, April 4th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

Read Our Latest Report on PSN

Parsons Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Parsons (NYSE:PSN)

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