TD Private Client Wealth LLC Has $157,000 Position in Parsons Co. (NYSE:PSN)

TD Private Client Wealth LLC increased its position in shares of Parsons Co. (NYSE:PSN) by 42.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,512 shares of the company’s stock after acquiring an additional 449 shares during the period. TD Private Client Wealth LLC’s holdings in Parsons were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PSN. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Parsons in the 2nd quarter valued at $286,000. Blue Trust Inc. boosted its stake in Parsons by 23.6% in the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after buying an additional 199 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in Parsons by 468.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,248 shares of the company’s stock valued at $348,000 after acquiring an additional 3,501 shares during the last quarter. Hennessy Advisors Inc. raised its stake in Parsons by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 517,100 shares of the company’s stock worth $42,304,000 after acquiring an additional 79,200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Parsons by 22.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 694,704 shares of the company’s stock worth $56,834,000 after acquiring an additional 128,061 shares during the last quarter. 98.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PSN. Robert W. Baird lifted their price target on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and upped their price target for the stock from $103.00 to $111.00 in a report on Thursday. Truist Financial dropped their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Raymond James cut Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target for the company. in a research note on Wednesday, October 23rd. Finally, KeyCorp increased their price target on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Parsons currently has an average rating of “Buy” and a consensus target price of $108.88.

Parsons Stock Performance

NYSE PSN opened at $96.56 on Monday. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 146.31, a PEG ratio of 1.72 and a beta of 0.74. Parsons Co. has a twelve month low of $61.10 and a twelve month high of $114.68. The stock has a fifty day simple moving average of $103.19 and a 200 day simple moving average of $92.97. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Sell-side analysts expect that Parsons Co. will post 3.02 EPS for the current year.

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.