Creative Planning Increases Stake in Parsons Co. (NYSE:PSN)

Creative Planning raised its holdings in shares of Parsons Co. (NYSE:PSN) by 42.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,381 shares of the company’s stock after purchasing an additional 2,198 shares during the quarter. Creative Planning’s holdings in Parsons were worth $604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. AE Wealth Management LLC lifted its position 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 in the last quarter. EntryPoint Capital LLC lifted its holdings in Parsons by 17.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after purchasing an additional 196 shares in the last quarter. Blue Trust Inc. boosted its stake in Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after purchasing an additional 199 shares during the period. Certified Advisory Corp grew its holdings in Parsons by 6.2% during the 2nd quarter. Certified Advisory Corp now owns 4,743 shares of the company’s stock valued at $388,000 after buying an additional 278 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position 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 valued at $1,161,000 after buying an additional 311 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PSN. Robert W. Baird boosted their price objective on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Benchmark upped their price target on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Truist Financial restated a “buy” rating and set a $108.00 target price (up from $100.00) on shares of Parsons in a research report on Thursday, August 1st. KeyCorp raised their price target on Parsons from $99.00 to $116.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Stifel Nicolaus boosted their price objective on Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Parsons presently has a consensus rating of “Buy” and an average target price of $96.78.

Parsons Stock Up 1.9 %

Shares of NYSE PSN opened at $107.05 on Monday. The stock has a market capitalization of $15.71 billion, a P/E ratio of 594.72, a PEG ratio of 2.31 and a beta of 0.80. Parsons Co. has a one year low of $55.22 and a one year high of $107.67. The firm’s 50 day simple moving average is $97.51 and its two-hundred day simple moving average is $85.47. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.59 by $0.18. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.53 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. As a group, analysts expect 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.