Parsons Co. (NYSE:PSN) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. boosted its holdings in Parsons Co. (NYSE:PSN) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,733 shares of the company’s stock after acquiring an additional 327 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Parsons were worth $297,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Parsons by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,119,811 shares of the company’s stock valued at $223,912,000 after acquiring an additional 131,617 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Parsons by 40.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 559,252 shares of the company’s stock valued at $30,395,000 after purchasing an additional 161,592 shares during the period. Legal & General Group Plc increased its position in shares of Parsons by 5.8% during the 3rd quarter. Legal & General Group Plc now owns 536,292 shares of the company’s stock valued at $29,147,000 after purchasing an additional 29,225 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Parsons during the 3rd quarter valued at $27,952,000. Finally, Loomis Sayles & Co. L P increased its position in shares of Parsons by 1.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 466,810 shares of the company’s stock valued at $25,371,000 after purchasing an additional 6,236 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PSN shares. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Parsons in a research report on Thursday, April 4th. Robert W. Baird lifted their price target on Parsons from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. KeyCorp lifted their target price on Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday. The Goldman Sachs Group lifted their target price on Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Truist Financial lifted their target price on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.00.

Parsons Stock Performance

Shares of Parsons stock opened at $77.87 on Tuesday. The stock has a market cap of $8.24 billion, a PE ratio of 54.84, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. The business has a fifty day simple moving average of $80.20 and a 200-day simple moving average of $68.60. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. Parsons Co. has a 12 month low of $42.22 and a 12 month high of $85.44.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.56 by $0.13. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Parsons had a return on equity of 10.32% and a net margin of 2.96%. Parsons’s revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. On average, sell-side analysts anticipate that Parsons Co. will post 2.55 EPS for the current fiscal year.

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.