MetLife Investment Management LLC Purchases 23,311 Shares of Parsons Co. (NYSE:PSN)

MetLife Investment Management LLC raised its position in shares of Parsons Co. (NYSE:PSN) by 2,846.3% in the third quarter, HoldingsChannel reports. The firm owned 24,130 shares of the company’s stock after acquiring an additional 23,311 shares during the period. MetLife Investment Management LLC’s holdings in Parsons were worth $2,502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PSN. Wedge Capital Management L L P NC purchased a new position in shares of Parsons in the 3rd quarter valued at $62,514,000. Allspring Global Investments Holdings LLC increased its holdings in shares of 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 acquiring an additional 428,662 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of Parsons in the 2nd quarter valued at $29,302,000. Appian Way Asset Management LP increased its holdings in shares of Parsons by 649.9% in the 2nd quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock valued at $32,303,000 after acquiring an additional 342,200 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Parsons by 18.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after acquiring an additional 183,117 shares during the period. 98.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSN. KeyCorp lifted their price target on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price on the stock. in a research note on Wednesday, October 23rd. Truist Financial dropped their target price on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, Robert W. Baird boosted their target price on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.13.

Parsons Stock Up 4.5 %

Parsons stock opened at $99.04 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The business’s 50-day simple moving average is $104.30 and its two-hundred day simple moving average is $91.93. The company has a market cap of $10.52 billion, a PE ratio of 150.06, a PEG ratio of 1.71 and a beta of 0.74. Parsons Co. has a fifty-two week low of $61.10 and a fifty-two week high of $114.68.

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