Parsons Co. (NYSE:PSN) Shares Sold by MML Investors Services LLC

MML Investors Services LLC trimmed its holdings in shares of Parsons Co. (NYSE:PSN) by 5.9% during the third quarter, Holdings Channel reports. The firm owned 21,242 shares of the company’s stock after selling 1,325 shares during the quarter. MML Investors Services LLC’s holdings in Parsons were worth $2,202,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Fisher Asset Management LLC raised its stake in Parsons by 2.1% during 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 during the period. CIBC Asset Management Inc grew its holdings in shares of Parsons by 3.2% during the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock valued at $324,000 after purchasing an additional 96 shares during the last quarter. Chartwell Investment Partners LLC raised its position in shares of Parsons by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock worth $1,507,000 after purchasing an additional 117 shares during the period. AE Wealth Management LLC lifted its holdings in shares of Parsons by 2.7% in the 2nd quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock worth $471,000 after purchasing an additional 150 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in 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 purchasing an additional 199 shares during the period. 98.02% of the stock is currently owned by institutional investors.

Parsons Trading Up 1.4 %

Parsons stock opened at $97.89 on Tuesday. Parsons Co. has a 12-month low of $61.35 and a 12-month high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $10.39 billion, a PE ratio of 148.32, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The firm has a 50 day simple moving average of $103.03 and a 200-day simple moving average of $93.12.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, equities research analysts expect that Parsons Co. will post 3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on PSN. The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and increased their target price for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Robert W. Baird increased their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Truist Financial decreased their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. KeyCorp raised their price target 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, Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $108.88.

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.