Parsons Co. (NYSE:PSN) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its position in shares of Parsons Co. (NYSE:PSN) by 11.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,201,967 shares of the company’s stock after selling 159,763 shares during the period. Dimensional Fund Advisors LP’s holdings in Parsons were worth $98,334,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tanglewood Legacy Advisors LLC acquired a new position in shares of Parsons in the 2nd quarter valued at $44,000. TFO Wealth Partners LLC increased its stake in Parsons by 18,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after purchasing an additional 728 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Parsons in the first quarter valued at about $62,000. Blue Trust Inc. boosted its stake in shares of Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after buying an additional 199 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Parsons during the fourth quarter worth about $91,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PSN shares. Robert W. Baird boosted their price target on Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price on Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Benchmark increased their price target on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $108.00 price objective (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Finally, KeyCorp raised their target price on shares of Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Parsons currently has a consensus rating of “Buy” and an average target price of $94.67.

Parsons Price Performance

Shares of NYSE PSN opened at $100.97 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80. Parsons Co. has a one year low of $53.56 and a one year high of $101.69. The firm has a market capitalization of $14.82 billion, a P/E ratio of 560.94, a PEG ratio of 2.11 and a beta of 0.80. The company’s fifty day moving average is $91.02 and its two-hundred day moving average is $83.31.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.18. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.53 billion. Analysts forecast that Parsons Co. will post 2.88 EPS for the current fiscal 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.