Optimum Investment Advisors Makes New Investment in Parsons Co. (NYSE:PSN)

Optimum Investment Advisors acquired a new position in Parsons Co. (NYSE:PSN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,400 shares of the company’s stock, valued at approximately $145,000.

A number of other institutional investors have also added to or reduced their stakes in PSN. Principal Financial Group Inc. grew its position in Parsons by 162.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,005,140 shares of the company’s stock worth $83,376,000 after purchasing an additional 622,243 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Parsons in the 3rd quarter worth about $62,514,000. Vanguard Group Inc. grew its position in Parsons by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock worth $376,997,000 after purchasing an additional 421,085 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in Parsons in the 2nd quarter worth about $29,302,000. Finally, Appian Way Asset Management LP grew its position in Parsons by 649.9% in the 2nd quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock worth $32,303,000 after purchasing an additional 342,200 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

Parsons Stock Performance

NYSE PSN opened at $108.25 on Friday. Parsons Co. has a 1 year low of $55.22 and a 1 year high of $109.55. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market capitalization of $15.89 billion, a PE ratio of 601.39, a P/E/G ratio of 2.31 and a beta of 0.80. The company’s 50 day simple moving average is $99.00 and its two-hundred day simple moving average is $86.14.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.18. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Analysts predict that Parsons Co. will post 2.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PSN has been the subject of a number of research reports. KeyCorp increased their target price on shares of Parsons from $99.00 to $116.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Robert W. Baird increased their target price on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Truist Financial reissued a “buy” rating and set a $108.00 target price (up from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Stifel Nicolaus increased their target price on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Benchmark increased their target price on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Parsons has an average rating of “Buy” and a consensus target price of $96.78.

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.