Janus Henderson Group PLC Boosts Position in Parsons Co. (NYSE:PSN)

Janus Henderson Group PLC grew its stake in shares of Parsons Co. (NYSE:PSN) by 104.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,189 shares of the company’s stock after purchasing an additional 22,573 shares during the quarter. Janus Henderson Group PLC’s holdings in Parsons were worth $4,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. True Wealth Design LLC purchased a new position in shares of Parsons in the 3rd quarter valued at $30,000. Captrust Financial Advisors boosted its stake in Parsons by 17.2% in the third quarter. Captrust Financial Advisors now owns 10,732 shares of the company’s stock valued at $1,113,000 after acquiring an additional 1,573 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Parsons by 110.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 254,420 shares of the company’s stock worth $26,378,000 after purchasing an additional 133,310 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Parsons by 2,846.3% during the third quarter. MetLife Investment Management LLC now owns 24,130 shares of the company’s stock worth $2,502,000 after purchasing an additional 23,311 shares in the last quarter. Finally, BNP Paribas purchased a new stake in shares of Parsons in the 3rd quarter valued at about $547,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PSN shares. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target on the stock. in a research note on Wednesday, October 23rd. Truist Financial reduced their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Robert W. Baird raised 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. Finally, KeyCorp upped their target price on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.13.

Parsons Stock Down 0.9 %

PSN stock opened at $95.92 on Wednesday. Parsons Co. has a one year low of $61.10 and a one year 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. The company has a fifty day moving average of $103.95 and a 200-day moving average of $92.47. The stock has a market capitalization of $10.19 billion, a PE ratio of 145.33, a price-to-earnings-growth ratio of 1.75 and a beta of 0.74.

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

About Parsons

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.