Johnson Investment Counsel Inc. Makes New $235,000 Investment in Parsons Co. (NYSE:PSN)

Johnson Investment Counsel Inc. purchased a new stake in Parsons Co. (NYSE:PSN) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,868 shares of the company’s stock, valued at approximately $235,000.

A number of other large investors have also made changes to their positions in PSN. Tanglewood Legacy Advisors LLC acquired a new position in Parsons during the second quarter worth $44,000. TFO Wealth Partners LLC raised its holdings in shares of Parsons by 18,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after acquiring an additional 728 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Parsons during the 1st quarter valued at about $62,000. Blue Trust Inc. grew its holdings in shares of Parsons by 23.6% in 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 during the period. Finally, Neo Ivy Capital Management acquired a new stake in Parsons during the fourth quarter worth about $91,000. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Stock Performance

NYSE:PSN opened at $98.22 on Monday. The company has a fifty day simple moving average of $88.16 and a two-hundred day simple moving average of $82.46. The company has a market cap of $14.41 billion, a price-to-earnings ratio of 545.67, a price-to-earnings-growth ratio of 2.06 and a beta of 0.80. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.54. Parsons Co. has a 52 week low of $53.56 and a 52 week high of $98.63.

Parsons (NYSE:PSN) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.59 by $0.18. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.53 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. As a group, equities analysts anticipate that Parsons Co. will post 2.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on PSN. Robert W. Baird boosted their target price on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and set a $108.00 price target (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Stifel Nicolaus lifted their price target on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Benchmark lifted 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. Finally, KeyCorp lifted their price target on shares of Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $94.67.

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.