Caprock Group LLC Acquires New Shares in Parsons Co. (NYSE:PSN)

Caprock Group LLC bought a new position in Parsons Co. (NYSE:PSN) in the third quarter, HoldingsChannel reports. The fund bought 2,130 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. V Square Quantitative Management LLC bought a new stake in shares of Parsons in the third quarter worth approximately $33,000. Tanglewood Legacy Advisors LLC purchased a new stake in Parsons in the second quarter worth approximately $44,000. Capital Performance Advisors LLP bought a new stake in Parsons in the 3rd quarter worth approximately $45,000. DekaBank Deutsche Girozentrale purchased a new stake in Parsons during the 3rd quarter valued at $72,000. Finally, Blue Trust Inc. lifted its holdings in shares of Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after buying an additional 199 shares during the period. Institutional investors own 98.02% of the company’s stock.

Parsons Price Performance

Shares of NYSE:PSN opened at $99.05 on Monday. The company has a market capitalization of $10.52 billion, a P/E ratio of 150.08, a P/E/G ratio of 1.77 and a beta of 0.80. Parsons Co. has a 1-year low of $61.10 and a 1-year high of $114.68. The firm’s 50 day simple moving average is $104.86 and its two-hundred day simple moving average is $90.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55.

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

Analysts Set New Price Targets

PSN has been the subject of a number of research reports. Robert W. Baird upped their price objective on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Benchmark upped 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. Truist Financial dropped their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday. KeyCorp upped their target price on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Raymond James cut shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target on the stock. in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.