Canal Insurance CO Takes Position in Parsons Co. (NYSE:PSN)

Canal Insurance CO bought a new stake in Parsons Co. (NYSE:PSN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,000 shares of the company’s stock, valued at approximately $554,000.

A number of other institutional investors have also recently added to or reduced their stakes in PSN. Mount Yale Investment Advisors LLC purchased a new position in shares of Parsons in the 4th quarter valued at $231,000. Pacer Advisors Inc. raised its holdings in shares of Parsons by 131.6% during the 4th quarter. Pacer Advisors Inc. now owns 15,818 shares of the company’s stock valued at $1,459,000 after buying an additional 8,989 shares during the period. KBC Group NV lifted its position in Parsons by 82.4% during the 4th quarter. KBC Group NV now owns 2,056 shares of the company’s stock worth $190,000 after acquiring an additional 929 shares in the last quarter. Blue Trust Inc. grew its position in Parsons by 28.7% in the fourth quarter. Blue Trust Inc. now owns 1,340 shares of the company’s stock valued at $124,000 after acquiring an additional 299 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC acquired a new position in shares of Parsons during the fourth quarter worth $2,320,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Price Performance

Shares of NYSE:PSN opened at $84.36 on Tuesday. 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 firm’s 50 day moving average is $94.53 and its two-hundred day moving average is $96.19. The firm has a market capitalization of $8.96 billion, a P/E ratio of 127.82, a PEG ratio of 1.42 and a beta of 0.74. Parsons Co. has a 52 week low of $64.33 and a 52 week high of $114.68.

Parsons (NYSE:PSN) last announced its 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 net margin of 1.21% and a return on equity of 12.74%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Analysts anticipate that Parsons Co. will post 3.02 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Raymond James lowered shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. KeyCorp dropped their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Jefferies Financial Group decreased their price objective on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday. 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 research note on Thursday, October 31st. Finally, William Blair lowered Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Parsons currently has an average rating of “Moderate Buy” and a consensus price target of $107.33.

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.