Algert Global LLC Purchases 93,831 Shares of Parsons Co. (NYSE:PSN)

Algert Global LLC increased its position in shares of Parsons Co. (NYSE:PSN) by 168.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 149,656 shares of the company’s stock after purchasing an additional 93,831 shares during the period. Parsons makes up about 0.4% of Algert Global LLC’s portfolio, making the stock its 17th biggest position. Algert Global LLC’s holdings in Parsons were worth $15,516,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in Parsons by 3.2% during the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after buying an additional 96 shares during the period. Chartwell Investment Partners LLC lifted its stake in shares of Parsons by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock worth $1,507,000 after purchasing an additional 117 shares during the last quarter. AE Wealth Management LLC boosted its position in Parsons by 2.7% during the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock valued at $471,000 after purchasing an additional 150 shares in the last quarter. Blue Trust Inc. boosted its position in 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 purchasing an additional 199 shares in the last quarter. Finally, Assetmark Inc. grew its stake in Parsons by 10.7% in the third quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock valued at $285,000 after purchasing an additional 265 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Trading Down 0.4 %

Shares of Parsons stock opened at $99.04 on Friday. Parsons Co. has a 12-month low of $61.10 and a 12-month high of $114.68. The firm’s 50 day simple moving average is $104.86 and its two-hundred day simple moving average is $90.77. 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 firm has a market capitalization of $10.52 billion, a price-to-earnings ratio of 150.06, a PEG ratio of 1.77 and a beta of 0.80.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. Analysts predict that Parsons Co. will post 3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on PSN shares. Benchmark increased their price target on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird increased their target price on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. KeyCorp lifted their price target on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Raymond James lowered Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a report on Wednesday, October 23rd. Finally, Truist Financial lowered their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Parsons presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.13.

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.