53,985 Shares in Parsons Co. (NYSE:PSN) Purchased by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. bought a new stake in Parsons Co. (NYSE:PSN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 53,985 shares of the company’s stock, valued at approximately $4,417,000. Parsons accounts for about 1.8% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 13th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tanglewood Legacy Advisors LLC bought a new stake in shares of Parsons during the 2nd quarter worth $44,000. TFO Wealth Partners LLC increased its position in Parsons by 18,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after purchasing an additional 728 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Parsons in the 1st quarter valued at approximately $62,000. Blue Trust Inc. boosted its position 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. Finally, EntryPoint Capital LLC grew its stake in shares of Parsons by 17.2% during the first quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after buying an additional 196 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Benchmark increased their price target on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Truist Financial reissued a “buy” rating and set a $108.00 price target (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Robert W. Baird boosted their price target on Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. KeyCorp lifted their target price on shares of Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Parsons has a consensus rating of “Buy” and an average price target of $94.67.

Parsons Trading Down 0.4 %

PSN opened at $97.80 on Tuesday. Parsons Co. has a twelve month low of $53.56 and a twelve month high of $100.08. The company has a fifty day moving average of $88.54 and a 200-day moving average of $82.58. The stock has a market cap of $10.38 billion, a PE ratio of 543.36, a price-to-earnings-growth ratio of 2.06 and a beta of 0.80. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.54.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.18. Parsons had a return on equity of 12.09% and a net margin of 0.89%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.53 billion. On average, sell-side analysts predict that Parsons Co. will post 2.88 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.