Parsons Co. (NYSE:PSN) Shares Sold by GEM Asset Management LLC

GEM Asset Management LLC cut its holdings in Parsons Co. (NYSE:PSN) by 50.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,500 shares of the company’s stock after selling 8,500 shares during the quarter. GEM Asset Management LLC’s holdings in Parsons were worth $902,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. AE Wealth Management LLC increased its stake in shares of Parsons by 2.7% during the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock worth $471,000 after acquiring an additional 150 shares during the period. EntryPoint Capital LLC increased its stake in shares of Parsons by 17.2% during the first quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after acquiring an additional 196 shares during the period. Blue Trust Inc. increased 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 acquiring an additional 199 shares during the period. Certified Advisory Corp increased its stake in shares of Parsons by 6.2% during the second quarter. Certified Advisory Corp now owns 4,743 shares of the company’s stock worth $388,000 after acquiring an additional 278 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Parsons by 2.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,992 shares of the company’s stock worth $1,161,000 after acquiring an additional 311 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Trading Down 2.0 %

PSN stock traded down $2.17 on Thursday, hitting $105.04. 236,631 shares of the company were exchanged, compared to its average volume of 898,172. Parsons Co. has a twelve month low of $55.22 and a twelve month high of $107.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. The business’s fifty day moving average is $96.82 and its two-hundred day moving average is $85.11. The stock has a market capitalization of $15.41 billion, a price-to-earnings ratio of 586.28, a price-to-earnings-growth ratio of 2.28 and a beta of 0.80.

Parsons (NYSE:PSN) last issued 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. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.53 billion. As a group, research analysts forecast that Parsons Co. will post 2.88 earnings per share for the current year.

Analyst Ratings Changes

PSN has been the topic of a number of recent analyst reports. KeyCorp boosted their price target on shares of Parsons from $99.00 to $116.00 and gave the stock an “overweight” rating in a research note on Tuesday. Robert W. Baird boosted their price objective on shares of Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Benchmark boosted their price objective on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Truist Financial reissued a “buy” rating and set a $108.00 price objective (up previously from $100.00) on shares of Parsons in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $96.78.

Parsons 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.