Teachers Retirement System of The State of Kentucky Purchases Shares of 8,200 Parsons Co. (NYSE:PSN)

Teachers Retirement System of The State of Kentucky acquired a new position in shares of Parsons Co. (NYSE:PSN) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,200 shares of the company’s stock, valued at approximately $850,000.

A number of other hedge funds have also modified their holdings of PSN. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Parsons during the second quarter valued at $286,000. Blue Trust Inc. raised its holdings in Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after buying an additional 199 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Parsons by 22.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 694,704 shares of the company’s stock valued at $56,834,000 after buying an additional 128,061 shares in the last quarter. Legato Capital Management LLC boosted its holdings in shares of Parsons by 9.5% in the second quarter. Legato Capital Management LLC now owns 11,771 shares of the company’s stock worth $963,000 after buying an additional 1,019 shares during the period. Finally, Pullen Investment Management LLC increased its position in shares of Parsons by 4.2% in the second quarter. Pullen Investment Management LLC now owns 13,558 shares of the company’s stock worth $1,109,000 after acquiring an additional 542 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on PSN shares. Raymond James lowered 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. The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and raised their target price for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Truist Financial dropped their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Robert W. Baird raised their price objective on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, KeyCorp upped their target price on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Parsons presently has an average rating of “Buy” and an average target price of $108.88.

Parsons Trading Down 1.5 %

Shares of NYSE PSN opened at $94.91 on Thursday. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 143.81, a PEG ratio of 1.72 and a beta of 0.74. The business has a 50 day simple moving average of $102.57 and a 200 day simple moving average of $93.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. Parsons Co. has a 52 week low of $61.35 and a 52 week high of $114.68.

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. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. On average, research analysts predict 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.