Focus Partners Advisor Solutions LLC Invests $423,000 in Parsons Corporation $PSN

Focus Partners Advisor Solutions LLC purchased a new position in shares of Parsons Corporation (NYSE:PSN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,901 shares of the company’s stock, valued at approximately $423,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Banque Transatlantique SA purchased a new position in shares of Parsons during the 1st quarter worth $34,000. Signaturefd LLC boosted its stake in shares of Parsons by 63.1% during the 1st quarter. Signaturefd LLC now owns 610 shares of the company’s stock worth $36,000 after acquiring an additional 236 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Parsons by 38.0% during the 1st quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after acquiring an additional 264 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Parsons by 229.5% during the 1st quarter. GAMMA Investing LLC now owns 1,038 shares of the company’s stock worth $61,000 after acquiring an additional 723 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Parsons by 433.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock worth $75,000 after acquiring an additional 1,024 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Stock Up 0.3%

PSN opened at $82.98 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 37.05, a price-to-earnings-growth ratio of 4.35 and a beta of 0.64. The firm’s fifty day moving average is $81.76 and its 200 day moving average is $74.49. Parsons Corporation has a fifty-two week low of $54.56 and a fifty-two week high of $114.68.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Parsons had a net margin of 3.70% and a return on equity of 12.36%. Parsons’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. On average, sell-side analysts forecast that Parsons Corporation will post 3.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PSN shares. Truist Financial lifted their price target on shares of Parsons from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Zacks Research upgraded shares of Parsons from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. Baird R W upgraded shares of Parsons from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Finally, KeyCorp lifted their target price on shares of Parsons from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.

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.