Burney Co. Acquires 530 Shares of Parsons Co. (NYSE:PSN)

Burney Co. lifted its stake in Parsons Co. (NYSE:PSN) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,352 shares of the company’s stock after buying an additional 530 shares during the period. Burney Co.’s holdings in Parsons were worth $2,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PSN. State Street Corp grew its holdings in shares of Parsons by 60.6% during the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after purchasing an additional 616,707 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Parsons during the third quarter worth about $62,514,000. Allspring Global Investments Holdings LLC increased its holdings in Parsons by 61.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after buying an additional 428,662 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Parsons in the 2nd quarter valued at approximately $29,302,000. Finally, Appian Way Asset Management LP lifted its holdings in shares of Parsons by 649.9% during the 2nd quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock worth $32,303,000 after acquiring an additional 342,200 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PSN shares. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. KeyCorp decreased their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial dropped their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, TD Cowen decreased their price target on shares of Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Parsons has a consensus rating of “Moderate Buy” and a consensus target price of $108.25.

Parsons Stock Performance

NYSE:PSN opened at $95.38 on Thursday. The stock’s 50-day moving average is $96.79 and its 200-day moving average is $95.46. The stock has a market cap of $10.13 billion, a P/E ratio of 144.52, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. Parsons Co. has a 1-year low of $64.33 and a 1-year high of $114.68. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. Equities research analysts anticipate that Parsons Co. will post 3.02 earnings per share 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.