State of Alaska Department of Revenue Purchases Shares of 5,420 Parsons Co. (NYSE:PSN)

State of Alaska Department of Revenue acquired a new position in Parsons Co. (NYSE:PSN) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,420 shares of the company’s stock, valued at approximately $561,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in Parsons during the 1st quarter worth $1,451,000. SG Americas Securities LLC raised its stake in shares of Parsons by 872.4% during the first quarter. SG Americas Securities LLC now owns 39,586 shares of the company’s stock valued at $3,284,000 after purchasing an additional 35,515 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Parsons in the first quarter worth about $1,064,000. Lisanti Capital Growth LLC bought a new position in Parsons in the 1st quarter valued at about $3,887,000. Finally, Benedetti & Gucer Inc. acquired a new position in Parsons during the 1st quarter valued at about $321,000. 98.02% of the stock is owned by institutional investors.

Parsons Trading Down 0.4 %

Parsons stock opened at $110.23 on Friday. The company has a 50 day moving average price of $103.11 and a 200 day moving average price of $88.93. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of 167.02, a P/E/G ratio of 2.36 and a beta of 0.80. Parsons Co. has a 52 week low of $61.10 and a 52 week high of $114.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Research analysts forecast that Parsons Co. will post 2.89 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on PSN. KeyCorp increased their price objective on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Benchmark increased their price target on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective on the stock. in a research note on Wednesday, October 23rd. Truist Financial reaffirmed a “buy” rating and set a $108.00 target price (up previously from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Finally, Robert W. Baird lifted their target price on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.11.

Parsons Company 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.