Harel Insurance Investments & Financial Services Ltd. Acquires 3,501 Shares of Parsons Co. (NYSE:PSN)

Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Parsons Co. (NYSE:PSN) by 468.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,248 shares of the company’s stock after purchasing an additional 3,501 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Parsons were worth $348,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Parsons by 12.5% during the 4th quarter. Principal Financial Group Inc. now owns 382,897 shares of the company’s stock worth $24,011,000 after purchasing an additional 42,531 shares in the last quarter. Caas Capital Management LP bought a new stake in Parsons during the 4th quarter worth approximately $3,075,000. Seaside Wealth Management Inc. bought a new stake in Parsons during the 1st quarter worth approximately $1,240,000. Tidal Investments LLC bought a new stake in Parsons during the 1st quarter worth approximately $853,000. Finally, Russell Investments Group Ltd. increased its stake in Parsons by 17,130.4% during the 1st quarter. Russell Investments Group Ltd. now owns 9,649 shares of the company’s stock worth $800,000 after purchasing an additional 9,593 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on PSN shares. Robert W. Baird upped their price target on Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. KeyCorp upped their price target on Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Raymond James raised Parsons from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $82.00 to $95.00 in a research report on Wednesday, May 1st. Stifel Nicolaus upped their price target on Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, TD Cowen raised Parsons from a “hold” rating to a “buy” rating and upped their price target for the stock from $77.00 to $90.00 in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $94.67.

Parsons Stock Down 0.5 %

Shares of NYSE PSN traded down $0.43 during trading hours on Tuesday, hitting $93.54. The company had a trading volume of 98,321 shares, compared to its average volume of 882,922. The stock has a market capitalization of $9.93 billion, a P/E ratio of 522.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.54. Parsons Co. has a 1-year low of $53.56 and a 1-year high of $94.50. The firm’s 50 day moving average is $82.17 and its 200-day moving average is $79.51.

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.