Martingale Asset Management L P Lowers Position in Parsons Co. (NYSE:PSN)

Martingale Asset Management L P decreased its stake in shares of Parsons Co. (NYSE:PSN) by 37.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,048 shares of the company’s stock after selling 12,816 shares during the quarter. Martingale Asset Management L P’s holdings in Parsons were worth $2,182,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PSN. V Square Quantitative Management LLC acquired a new stake in Parsons during the 3rd quarter worth approximately $33,000. Tanglewood Legacy Advisors LLC acquired a new stake in shares of Parsons in the second quarter worth $44,000. Capital Performance Advisors LLP acquired a new stake in shares of Parsons in the third quarter worth $45,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Parsons in the 3rd quarter valued at $72,000. Finally, Blue Trust Inc. lifted its holdings in shares of Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after acquiring an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

PSN has been the topic of several research reports. Raymond James lowered Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective on the stock. in a research report on Wednesday, October 23rd. Robert W. Baird raised their target price on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. KeyCorp upped their price target on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Truist Financial dropped their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Parsons currently has an average rating of “Moderate Buy” and an average price target of $105.13.

Parsons Stock Performance

Parsons stock opened at $95.91 on Friday. Parsons Co. has a 52 week low of $61.10 and a 52 week high of $114.68. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock has a market cap of $10.18 billion, a P/E ratio of 145.32, a price-to-earnings-growth ratio of 1.71 and a beta of 0.80. The stock has a 50 day moving average of $104.61 and a 200-day moving average of $91.51.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.63 billion. On average, analysts expect that Parsons Co. will post 3.02 EPS for the current fiscal year.

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.