Nations Financial Group Inc. IA ADV Sells 1,000 Shares of Parsons Co. (NYSE:PSN)

Nations Financial Group Inc. IA ADV reduced its position in Parsons Co. (NYSE:PSN) by 31.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,171 shares of the company’s stock after selling 1,000 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Parsons were worth $225,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Tidal Investments LLC bought a new position in Parsons in the first quarter valued at approximately $853,000. Russell Investments Group Ltd. lifted its holdings in shares of Parsons by 17,130.4% during the first quarter. Russell Investments Group Ltd. now owns 9,649 shares of the company’s stock worth $800,000 after purchasing an additional 9,593 shares during the period. Peregrine Asset Advisers Inc. acquired a new position in Parsons in the second quarter valued at $4,417,000. KP Management LLC raised its holdings in shares of Parsons by 25.0% during the second quarter. KP Management LLC now owns 25,000 shares of the company’s stock valued at $2,045,000 after purchasing an additional 5,000 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Parsons by 18.1% during the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after purchasing an additional 183,117 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Stock Down 10.5 %

PSN opened at $100.27 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $104.58 and a 200-day moving average price of $89.94. Parsons Co. has a twelve month low of $61.10 and a twelve month high of $114.68. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 151.92, a PEG ratio of 2.02 and a beta of 0.80.

Parsons (NYSE:PSN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping 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 net margin of 1.21% and a return on equity of 12.74%. Equities research analysts forecast that Parsons Co. will post 3.02 earnings per share for the current year.

Analyst Ratings Changes

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