State of New Jersey Common Pension Fund D Purchases Shares of 20,953 Parsons Co. (NYSE:PSN)

State of New Jersey Common Pension Fund D acquired a new stake in Parsons Co. (NYSE:PSN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,953 shares of the company’s stock, valued at approximately $2,172,000.

A number of other hedge funds have also recently modified their holdings of PSN. AE Wealth Management LLC grew its stake in shares of Parsons by 2.7% in the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock worth $471,000 after purchasing an additional 150 shares during the last quarter. EntryPoint Capital LLC grew its position in shares of Parsons by 17.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after buying an additional 196 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after buying an additional 199 shares during the period. Assetmark Inc. raised its holdings in shares of Parsons by 10.7% during the third quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock valued at $285,000 after acquiring an additional 265 shares in the last quarter. Finally, Certified Advisory Corp lifted its stake in Parsons by 6.2% in the second quarter. Certified Advisory Corp now owns 4,743 shares of the company’s stock worth $388,000 after acquiring an additional 278 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Analysts Set New Price Targets

PSN has been the topic of a number of research analyst reports. Raymond James downgraded 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. KeyCorp raised their price objective on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Robert W. Baird upped 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. Benchmark raised their target price on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $108.00 price target (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Parsons has an average rating of “Moderate Buy” and a consensus price target of $102.11.

Parsons Trading Down 10.5 %

Parsons stock 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 business’s fifty day simple moving average is $104.58 and its two-hundred day simple moving average is $89.94. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 151.92, a price-to-earnings-growth ratio of 2.02 and a beta of 0.80.

Parsons (NYSE:PSN) last announced its quarterly 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. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. As a group, equities analysts predict that Parsons Co. will post 3.02 earnings per share for the current fiscal 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.