Principal Financial Group Inc. Has $123.69 Million Stock Position in Parsons Co. (NYSE:PSN)

Principal Financial Group Inc. lifted its holdings in Parsons Co. (NYSE:PSN) by 18.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,192,943 shares of the company’s stock after purchasing an additional 183,117 shares during the period. Principal Financial Group Inc.’s holdings in Parsons were worth $123,685,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D acquired a new stake in shares of Parsons in the third quarter worth about $2,172,000. Oppenheimer & Co. Inc. lifted its holdings in Parsons by 37.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock worth $2,490,000 after purchasing an additional 6,577 shares during the last quarter. Aigen Investment Management LP bought a new stake in Parsons during the third quarter worth approximately $1,004,000. Peregrine Asset Advisers Inc. acquired a new position in Parsons during the second quarter valued at approximately $4,417,000. Finally, State Street Corp raised its position in shares of Parsons by 60.6% in the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after purchasing an additional 616,707 shares during the period. 98.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PSN shares. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Robert W. Baird upped 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. Truist Financial dropped their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. KeyCorp increased their target price on 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 target on the stock. in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $108.88.

Parsons Trading Up 0.6 %

Shares of PSN opened at $95.68 on Friday. The stock’s 50-day moving average price is $102.14 and its 200 day moving average price is $93.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 144.97, a P/E/G ratio of 1.72 and a beta of 0.74. Parsons Co. has a 12-month low of $61.35 and a 12-month high of $114.68.

Parsons (NYSE:PSN) last released its quarterly earnings data 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. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. As a group, research analysts predict that Parsons Co. will post 3.02 earnings per share 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.