Swiss National Bank Sells 300 Shares of Parsons Co. (NYSE:PSN)

Swiss National Bank cut its holdings in Parsons Co. (NYSE:PSN) by 0.3% during the third quarter, HoldingsChannel reports. The firm owned 93,400 shares of the company’s stock after selling 300 shares during the period. Swiss National Bank’s holdings in Parsons were worth $9,684,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Thrivent Financial for Lutherans bought a new stake in shares of Parsons in the third quarter valued at approximately $1,138,000. Mutual of America Capital Management LLC bought a new stake in Parsons in the 3rd quarter valued at $2,618,000. CIBC Asset Management Inc boosted its holdings in Parsons by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock valued at $324,000 after purchasing an additional 96 shares during the period. Oppenheimer & Co. Inc. grew its position in Parsons by 37.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock worth $2,490,000 after purchasing an additional 6,577 shares during the last quarter. Finally, Pinnacle Financial Partners Inc acquired a new position in shares of Parsons during the third quarter valued at about $248,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Ratings Changes

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

Parsons Stock Down 0.3 %

Shares of NYSE PSN opened at $99.05 on Monday. The business has a fifty day moving average of $104.86 and a two-hundred day moving average of $90.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. Parsons Co. has a 52-week low of $61.10 and a 52-week high of $114.68. The stock has a market cap of $10.52 billion, a PE ratio of 150.08, a PEG ratio of 1.77 and a beta of 0.80.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating 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%. As a group, equities research analysts expect that Parsons Co. will post 3.02 earnings per share 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.