Aptus Capital Advisors LLC Invests $563,000 in Parsons Co. (NYSE:PSN)

Aptus Capital Advisors LLC acquired a new stake in shares of Parsons Co. (NYSE:PSN) in the third quarter, HoldingsChannel.com reports. The firm acquired 5,430 shares of the company’s stock, valued at approximately $563,000.

Other institutional investors also recently bought and sold shares of the company. Aigen Investment Management LP purchased a new stake in shares of Parsons during the 3rd quarter valued at about $1,004,000. Chartwell Investment Partners LLC increased its holdings in Parsons by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after buying an additional 117 shares during the last quarter. Peregrine Asset Advisers Inc. increased its holdings in Parsons by 54.5% during the third quarter. Peregrine Asset Advisers Inc. now owns 83,416 shares of the company’s stock valued at $8,649,000 after buying an additional 29,431 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Parsons during the 3rd quarter worth $2,172,000. Finally, Axxcess Wealth Management LLC grew its position in shares of Parsons by 15.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 10,205 shares of the company’s stock valued at $1,058,000 after acquiring an additional 1,350 shares during the period. Institutional investors own 98.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PSN shares. Benchmark raised their target price on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird lifted their price objective on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Raymond James lowered shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price for the company. in a report on Wednesday, October 23rd. KeyCorp lifted their price target on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Truist Financial reissued a “buy” rating and issued a $108.00 price objective (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parsons has a consensus rating of “Moderate Buy” and a consensus price target of $102.11.

Parsons Price Performance

PSN stock opened at $97.38 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The company’s fifty day moving average price is $104.71 and its 200-day moving average price is $90.01. Parsons Co. has a one year low of $61.10 and a one year high of $114.68. The company has a market capitalization of $10.34 billion, a PE ratio of 147.35, a price-to-earnings-growth ratio of 2.00 and a beta of 0.80.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 EPS 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 analysts’ expectations of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. On average, equities analysts anticipate that Parsons Co. will post 3.02 EPS for the current fiscal year.

Parsons 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.