Public Employees Retirement System of Ohio Lowers Stock Position in Parsons Co. (NYSE:PSN)

Public Employees Retirement System of Ohio trimmed its position in Parsons Co. (NYSE:PSN) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,011 shares of the company’s stock after selling 850 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Parsons were worth $1,764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC increased its stake in shares of Parsons by 3.8% in the third quarter. EP Wealth Advisors LLC now owns 7,353 shares of the company’s stock worth $762,000 after purchasing an additional 271 shares in the last quarter. State Street Corp boosted its holdings in Parsons by 60.6% in the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after buying an additional 616,707 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in Parsons in the 3rd quarter worth $3,784,000. Portolan Capital Management LLC bought a new stake in Parsons during the third quarter valued at about $3,898,000. Finally, Needham Investment Management LLC lifted its position in shares of Parsons by 11.1% in the third quarter. Needham Investment Management LLC now owns 275,000 shares of the company’s stock valued at $28,512,000 after acquiring an additional 27,500 shares in the last quarter. Institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

PSN has been the subject of several research analyst reports. Robert W. Baird increased their target price on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. KeyCorp lifted their price objective on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Raymond James cut shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price for the company. in a research note on Wednesday, October 23rd. Finally, Truist Financial decreased their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $108.88.

Parsons Stock Down 1.5 %

Shares of NYSE:PSN opened at $94.91 on Thursday. The company has a 50-day moving average price of $102.57 and a 200 day moving average price of $93.27. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons Co. has a 12 month low of $61.35 and a 12 month high of $114.68. The company has a market cap of $10.08 billion, a price-to-earnings ratio of 143.81, a PEG ratio of 1.72 and a beta of 0.74.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. As a group, equities research analysts predict that Parsons Co. will post 3.02 earnings per share for the current 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.