Sigma Planning Corp Buys New Stake in Parsons Co. (NYSE:PSN)

Sigma Planning Corp bought a new position 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 institutional investor bought 2,239 shares of the company’s stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assetmark Inc. boosted its position in Parsons by 10.7% in the 3rd quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock worth $285,000 after purchasing an additional 265 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Parsons in the 3rd quarter valued at $45,000. Principal Financial Group Inc. boosted its holdings in Parsons by 18.1% during the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock worth $123,685,000 after buying an additional 183,117 shares in the last quarter. Amalgamated Bank grew its position in Parsons by 193.0% during the third quarter. Amalgamated Bank now owns 22,251 shares of the company’s stock valued at $2,307,000 after buying an additional 14,658 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Parsons by 26.3% in the third quarter. Van ECK Associates Corp now owns 360,896 shares of the company’s stock valued at $37,670,000 after buying an additional 75,096 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Stock Performance

Shares of NYSE:PSN opened at $97.40 on Friday. The business’s 50 day moving average price is $104.82 and its 200-day moving average price is $90.14. Parsons Co. has a 1 year low of $61.10 and a 1 year high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market capitalization of $10.34 billion, a PE ratio of 147.58, a P/E/G ratio of 2.00 and a beta of 0.80.

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 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 research analysts expect that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Benchmark increased their target price on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $108.00 price target (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Raymond James cut Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research report on Wednesday, October 23rd. KeyCorp upped their target price on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird lifted their price target on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parsons has a consensus rating of “Moderate Buy” and a consensus price target of $104.88.

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.