Covestor Ltd Has $54,000 Stake in Parsons Co. (NYSE:PSN)

Covestor Ltd lessened its position in Parsons Co. (NYSE:PSN) by 64.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 520 shares of the company’s stock after selling 954 shares during the period. Covestor Ltd’s holdings in Parsons were worth $54,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PSN. V Square Quantitative Management LLC acquired a new position in shares of Parsons in the third quarter valued at approximately $33,000. Tanglewood Legacy Advisors LLC bought a new stake in Parsons during the 2nd quarter worth approximately $44,000. Capital Performance Advisors LLP bought a new position in shares of Parsons during the third quarter valued at $45,000. DekaBank Deutsche Girozentrale bought a new position in shares of Parsons during the third quarter valued at $72,000. Finally, Blue Trust Inc. lifted its holdings in shares of Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after purchasing an additional 199 shares during the period. 98.02% of the stock is currently owned by institutional investors.

Parsons Trading Down 10.5 %

NYSE:PSN opened at $100.27 on Friday. Parsons Co. has a 12 month low of $61.10 and a 12 month high of $114.68. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 151.94, a PEG ratio of 2.02 and a beta of 0.80. The firm has a fifty day simple moving average of $104.58 and a two-hundred day simple moving average of $89.94.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Analysts expect that Parsons Co. will post 3.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.