EP Wealth Advisors LLC Purchases 271 Shares of Parsons Co. (NYSE:PSN)

EP Wealth Advisors LLC boosted its position in Parsons Co. (NYSE:PSN) by 3.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,353 shares of the company’s stock after acquiring an additional 271 shares during the period. EP Wealth Advisors LLC’s holdings in Parsons were worth $762,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Earnest Partners LLC raised its position in shares of Parsons by 2.4% in the second quarter. Earnest Partners LLC now owns 2,168,598 shares of the company’s stock valued at $177,413,000 after purchasing an additional 49,891 shares during the period. State Street Corp grew its stake in Parsons by 60.6% in the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after buying an additional 616,707 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Parsons by 18.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after acquiring an additional 183,117 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Parsons by 61.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock worth $116,471,000 after acquiring an additional 428,662 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Parsons in the third quarter worth $62,514,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PSN. Truist Financial dropped their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Robert W. Baird raised their price objective on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Raymond James cut shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research note on Wednesday, October 23rd. Finally, KeyCorp increased their target price on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.13.

Parsons Trading Down 0.9 %

Shares of Parsons stock opened at $95.92 on Wednesday. The company has a 50 day simple moving average of $103.95 and a two-hundred day simple moving average of $92.47. The firm has a market cap of $10.19 billion, a PE ratio of 145.33, a PEG ratio of 1.75 and a beta of 0.74. 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 announced its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (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 company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Analysts expect that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

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.