Mount Yale Investment Advisors LLC Acquires New Position in Parsons Co. (NYSE:PSN)

Mount Yale Investment Advisors LLC acquired a new position in shares of Parsons Co. (NYSE:PSN) during the 2nd quarter, HoldingsChannel reports. The firm acquired 3,650 shares of the company’s stock, valued at approximately $299,000.

A number of other large investors have also recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in shares of Parsons by 162.5% during the first quarter. Principal Financial Group Inc. now owns 1,005,140 shares of the company’s stock worth $83,376,000 after acquiring an additional 622,243 shares during the last quarter. Norges Bank acquired a new position in Parsons during the 4th quarter valued at about $37,854,000. Vanguard Group Inc. grew its position in Parsons by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock worth $376,997,000 after purchasing an additional 421,085 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Parsons during the fourth quarter valued at approximately $24,062,000. Finally, SW Investment Management LLC acquired a new position in Parsons during the 4th quarter worth $20,381,000. Institutional investors own 98.02% of the company’s stock.

Parsons Stock Down 0.4 %

Shares of Parsons stock opened at $100.97 on Wednesday. Parsons Co. has a 12-month low of $53.56 and a 12-month high of $101.69. The firm has a market capitalization of $10.72 billion, a PE ratio of 560.98, a price-to-earnings-growth ratio of 2.19 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. The stock’s fifty day moving average is $91.02 and its 200-day moving average is $83.31.

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

Wall Street Analyst Weigh In

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

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.