True Wealth Design LLC Makes New Investment in Parsons Co. (NYSE:PSN)

True Wealth Design LLC bought a new stake in Parsons Co. (NYSE:PSN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 289 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PSN. V Square Quantitative Management LLC acquired a new position in Parsons in the 3rd quarter valued at about $33,000. Tanglewood Legacy Advisors LLC acquired a new position in shares of Parsons in the second quarter valued at approximately $44,000. Capital Performance Advisors LLP acquired a new position in shares of Parsons in the third quarter valued at approximately $45,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Parsons during the third quarter worth approximately $72,000. Finally, Blue Trust Inc. lifted its holdings 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 purchasing an additional 199 shares during the period. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Stock Performance

PSN opened at $95.91 on Monday. The stock’s 50 day simple moving average is $104.61 and its 200 day simple moving average is $91.61. The stock has a market cap of $10.18 billion, a P/E ratio of 145.32, a P/E/G ratio of 1.71 and a beta of 0.80. Parsons Co. has a 1-year low of $61.10 and a 1-year high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. As a group, equities analysts anticipate that Parsons Co. will post 3.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PSN. Truist Financial dropped their price objective 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. Robert W. Baird boosted their price target on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. KeyCorp raised 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. Finally, Raymond James cut Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price on the stock. in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Parsons has a consensus rating of “Moderate Buy” and an average target price of $105.13.

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.