Point72 Asset Management L.P. Has $24.02 Million Stake in Parsons Co. (NYSE:PSN)

Point72 Asset Management L.P. lowered its holdings in shares of Parsons Co. (NYSE:PSN) by 33.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,634 shares of the company’s stock after selling 115,765 shares during the period. Point72 Asset Management L.P.’s holdings in Parsons were worth $24,016,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wedge Capital Management L L P NC acquired a new stake in shares of Parsons during the 3rd quarter valued at about $62,514,000. Allspring Global Investments Holdings LLC lifted its stake in 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 purchasing an additional 428,662 shares during the period. Driehaus Capital Management LLC acquired a new stake in Parsons during the second quarter valued at approximately $29,302,000. Appian Way Asset Management LP grew its stake in shares of Parsons by 649.9% in the 2nd quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock valued at $32,303,000 after purchasing an additional 342,200 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Parsons by 18.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after purchasing an additional 183,117 shares during the period. Institutional investors own 98.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on PSN shares. KeyCorp boosted their price target on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Robert W. Baird boosted their target price on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Raymond James cut shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price for the company. in a research report on Wednesday, October 23rd. Finally, Truist Financial reduced their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.13.

Parsons Trading Down 0.2 %

PSN opened at $98.88 on Friday. Parsons Co. has a 1-year low of $61.10 and a 1-year high of $114.68. The stock has a market capitalization of $10.50 billion, a PE ratio of 149.82, a PEG ratio of 1.69 and a beta of 0.74. 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 50-day moving average price of $104.21 and a two-hundred day moving average price of $91.98.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.63 billion. As a group, equities analysts anticipate 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.