Parsons Co. (NYSE:PSN) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P decreased its position in Parsons Co. (NYSE:PSN) by 11.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 308,886 shares of the company’s stock after selling 41,380 shares during the quarter. Loomis Sayles & Co. L P owned about 0.29% of Parsons worth $32,025,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PSN. Fisher Asset Management LLC raised its position in Parsons by 2.1% in the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock worth $452,000 after acquiring an additional 90 shares in the last quarter. Algert Global LLC grew its stake in shares of Parsons by 168.1% in the 3rd quarter. Algert Global LLC now owns 149,656 shares of the company’s stock worth $15,516,000 after purchasing an additional 93,831 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Parsons in the 3rd quarter worth approximately $759,000. Certified Advisory Corp lifted its stake in Parsons by 21.1% during the third quarter. Certified Advisory Corp now owns 5,743 shares of the company’s stock valued at $595,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Parsons by 21.9% during the third quarter. Advisors Asset Management Inc. now owns 25,147 shares of the company’s stock worth $2,607,000 after buying an additional 4,523 shares in the last quarter. Institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

PSN has been the subject of several research reports. Benchmark raised their price objective on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. 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. KeyCorp boosted their target price on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Truist Financial lowered their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Parsons has a consensus rating of “Moderate Buy” and a consensus price target of $105.13.

Parsons Trading Down 2.3 %

NYSE:PSN opened at $96.73 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market capitalization of $10.27 billion, a P/E ratio of 146.56, a P/E/G ratio of 1.77 and a beta of 0.80. The stock’s 50 day moving average price is $104.84 and its 200 day moving average price is $91.09. Parsons Co. has a 52 week low of $61.10 and a 52 week high of $114.68.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. On average, research analysts forecast that Parsons Co. will post 3.02 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.