10,442 Shares in Parsons Co. (NYSE:PSN) Acquired by Strategic Blueprint LLC

Strategic Blueprint LLC purchased a new position in Parsons Co. (NYSE:PSN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,442 shares of the company’s stock, valued at approximately $1,083,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC acquired a new position in shares of Parsons during the 3rd quarter worth about $62,514,000. Allspring Global Investments Holdings LLC boosted its holdings in Parsons by 61.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after purchasing an additional 428,662 shares in the last quarter. Vanguard Group Inc. increased its stake in Parsons by 10.2% in the first quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock valued at $376,997,000 after purchasing an additional 421,085 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Parsons in the second quarter valued at approximately $29,302,000. Finally, Appian Way Asset Management LP raised its holdings in Parsons by 649.9% during the second quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock worth $32,303,000 after purchasing an additional 342,200 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PSN. Robert W. Baird increased their target price on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. KeyCorp raised their price objective on Parsons from $99.00 to $116.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Truist Financial reissued a “buy” rating and issued a $108.00 target price (up from $100.00) on shares of Parsons in a report on Thursday, August 1st. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target on the stock. in a research note on Wednesday, October 23rd. Finally, Benchmark boosted their price objective on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parsons presently has an average rating of “Moderate Buy” and an average price target of $99.00.

Parsons Price Performance

Parsons stock opened at $110.00 on Thursday. The business has a 50 day simple moving average of $101.29 and a 200-day simple moving average of $87.68. Parsons Co. has a 12 month low of $56.04 and a 12 month high of $112.19. 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 stock has a market capitalization of $16.14 billion, a PE ratio of 611.11, a price-to-earnings-growth ratio of 2.24 and a beta of 0.80.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.59 by $0.18. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Equities analysts predict that Parsons Co. will post 2.89 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.