Mercer Global Advisors Inc. ADV Grows Position in Parsons Co. (NYSE:PSN)

Mercer Global Advisors Inc. ADV increased its position in shares of Parsons Co. (NYSE:PSN) by 9.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,439 shares of the company’s stock after buying an additional 452 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Parsons were worth $445,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Caas Capital Management LP purchased a new position in shares of Parsons in the 4th quarter valued at approximately $3,075,000. Seaside Wealth Management Inc. acquired a new position in Parsons during the first quarter worth $1,240,000. Tidal Investments LLC acquired a new position in Parsons during the first quarter worth $853,000. Russell Investments Group Ltd. raised its holdings in Parsons by 17,130.4% during the first quarter. Russell Investments Group Ltd. now owns 9,649 shares of the company’s stock worth $800,000 after purchasing an additional 9,593 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in Parsons by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 437,900 shares of the company’s stock worth $36,324,000 after purchasing an additional 54,200 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Stock Up 0.0 %

NYSE:PSN opened at $103.63 on Friday. The firm has a market capitalization of $11.00 billion, a PE ratio of 575.75, a price-to-earnings-growth ratio of 2.18 and a beta of 0.80. The stock has a 50 day moving average of $92.60 and a 200-day moving average of $83.75. Parsons Co. has a 52 week low of $53.56 and a 52 week high of $104.33. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.54.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.53 billion. Analysts predict that Parsons Co. will post 2.88 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Truist Financial reissued a “buy” rating and issued a $108.00 price target (up from $100.00) on shares of Parsons in a report on Thursday, August 1st. Benchmark boosted 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. KeyCorp boosted their price target on Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird boosted their price target on Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus lifted their price objective on Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. One investment 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price 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.