Tidal Investments LLC Has $748,000 Holdings in Parsons Co. (NYSE:PSN)

Tidal Investments LLC lifted its stake in shares of Parsons Co. (NYSE:PSN) by 140.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,214 shares of the company’s stock after buying an additional 4,220 shares during the quarter. Tidal Investments LLC’s holdings in Parsons were worth $748,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC grew its position in Parsons by 42.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,512 shares of the company’s stock worth $157,000 after purchasing an additional 449 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in shares of Parsons in the third quarter valued at approximately $850,000. Geode Capital Management LLC increased its position in shares of Parsons by 14.0% during the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after acquiring an additional 95,040 shares during the last quarter. Prestige Wealth Management Group LLC bought a new stake in Parsons during the third quarter worth $532,000. Finally, EP Wealth Advisors LLC boosted its position in 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 during the last quarter. Institutional investors own 98.02% of the company’s stock.

Parsons Stock Performance

NYSE:PSN opened at $95.68 on Friday. Parsons Co. has a twelve month low of $61.35 and a twelve month high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock has a market cap of $10.16 billion, a P/E ratio of 144.97, a PEG ratio of 1.72 and a beta of 0.74. The business’s 50-day moving average price is $102.14 and its two-hundred day moving average price is $93.56.

Parsons (NYSE:PSN) last released its quarterly 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 business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. As a group, equities analysts predict that Parsons Co. will post 3.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PSN. Truist Financial cut their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. KeyCorp increased their target price on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. TD Cowen upgraded Parsons to a “strong-buy” rating in a research note on Thursday. Finally, Raymond James downgraded 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. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $108.88.

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.