Parsons Co. (NYSE:PSN) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lowered its position in Parsons Co. (NYSE:PSN) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,216 shares of the company’s stock after selling 160 shares during the period. Salem Investment Counselors Inc.’s holdings in Parsons were worth $204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Wealth Partners LLC acquired a new stake in shares of Parsons in the 4th quarter worth approximately $26,000. True Wealth Design LLC purchased a new stake in Parsons in the 3rd quarter valued at approximately $30,000. GAMMA Investing LLC lifted its stake in Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Parsons in the 3rd quarter valued at approximately $33,000. Finally, Capital Performance Advisors LLP purchased a new stake in Parsons in the 3rd quarter valued at approximately $45,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Trading Up 1.0 %

Shares of PSN opened at $94.41 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $10.03 billion, a P/E ratio of 143.05, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The stock’s fifty day simple moving average is $97.10 and its 200 day simple moving average is $95.46. Parsons Co. has a twelve month low of $64.33 and a twelve month high of $114.68.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. On average, equities research analysts forecast that Parsons Co. will post 3.02 earnings per share for the current year.

Wall Street Analyst Weigh In

PSN has been the topic of a number of recent research reports. KeyCorp reduced their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Truist Financial reduced their target price on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. TD Cowen reduced their price target on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Parsons presently has an average rating of “Moderate Buy” and an average target price of $108.25.

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.