AlphaMark Advisors LLC Acquires New Stake in Parsons Co. (NYSE:PSN)

AlphaMark Advisors LLC bought a new position in shares of Parsons Co. (NYSE:PSN) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,855 shares of the company’s stock, valued at approximately $403,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC increased its position in Parsons by 18,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after purchasing an additional 728 shares during the last quarter. Psagot Value Holdings Ltd. Israel grew its position in shares of Parsons by 700.0% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock worth $70,000 after buying an additional 973 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Parsons in the 4th quarter valued at approximately $91,000. Salem Investment Counselors Inc. lifted its position in shares of Parsons by 339.2% during the 1st quarter. Salem Investment Counselors Inc. now owns 2,376 shares of the company’s stock worth $197,000 after purchasing an additional 1,835 shares during the last quarter. Finally, Blackston Financial Advisory Group LLC acquired a new position in shares of Parsons during the 4th quarter worth about $205,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

NYSE PSN traded down $1.61 on Monday, hitting $80.20. 731,263 shares of the company’s stock were exchanged, compared to its average volume of 888,772. The firm has a market cap of $11.77 billion, a price-to-earnings ratio of 445.56, a P/E/G ratio of 2.40 and a beta of 0.84. The firm’s 50-day moving average price is $77.73 and its two-hundred day moving average price is $74.64. Parsons Co. has a fifty-two week low of $46.85 and a fifty-two 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 1.79.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Parsons had a net margin of 0.49% and a return on equity of 11.27%. On average, research analysts expect that Parsons Co. will post 2.64 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on PSN shares. Truist Financial increased their target price on shares of Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. TD Cowen raised Parsons from a “hold” rating to a “buy” rating and upped their target price for the company from $77.00 to $90.00 in a research report on Friday, May 3rd. KeyCorp raised their price target on Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Raymond James upgraded Parsons from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $82.00 to $95.00 in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus raised their target price on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Parsons currently has a consensus rating of “Buy” and a consensus target price of $85.50.

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.