3,276 Shares in Parsons Co. (NYSE:PSN) Bought by Royal Fund Management LLC

Royal Fund Management LLC purchased a new position in Parsons Co. (NYSE:PSN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,276 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors also recently modified their holdings of PSN. Axxcess Wealth Management LLC bought a new position in Parsons in the 4th quarter worth $483,000. Los Angeles Capital Management LLC bought a new position in Parsons in the fourth quarter worth about $750,000. Mach 1 Financial Group LLC purchased a new stake in Parsons in the fourth quarter worth about $518,000. Van ECK Associates Corp boosted its position in Parsons by 77.7% during the 4th quarter. Van ECK Associates Corp now owns 38,315 shares of the company’s stock valued at $2,403,000 after acquiring an additional 16,756 shares in the last quarter. Finally, Precision Wealth Strategies LLC purchased a new position in shares of Parsons during the 4th quarter worth approximately $211,000. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSN has been the topic of several research reports. Truist Financial lifted their price target on Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Raymond James upgraded shares of Parsons from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $82.00 to $95.00 in a research note on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. KeyCorp raised their target price on shares of Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, TD Cowen upgraded shares of Parsons from a “hold” rating to a “buy” rating and lifted their target price for the company from $77.00 to $90.00 in a report on Friday. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $83.10.

Parsons Stock Performance

Shares of NYSE:PSN traded up $1.17 during mid-day trading on Friday, reaching $78.47. 801,569 shares of the company traded hands, compared to its average volume of 762,251. The company’s 50 day moving average price is $80.90 and its 200-day moving average price is $69.80. The firm has a market cap of $8.30 billion, a PE ratio of 435.94, a PEG ratio of 3.44 and a beta of 0.86. Parsons Co. has a 52 week low of $42.79 and a 52 week high of $85.44. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.52.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.13. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.33 billion. Parsons had a net margin of 0.49% and a return on equity of 11.27%. Parsons’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, equities analysts expect that Parsons Co. will post 2.57 EPS for the current fiscal year.

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.