Franklin Resources Inc. Has $64.81 Million Holdings in Parsons Co. (NYSE:PSN)

Franklin Resources Inc. lifted its holdings in Parsons Co. (NYSE:PSN) by 11.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 601,071 shares of the company’s stock after purchasing an additional 63,657 shares during the quarter. Franklin Resources Inc. owned 0.57% of Parsons worth $64,813,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC grew its stake in shares of Parsons by 2.1% in the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock valued at $452,000 after buying an additional 90 shares in the last quarter. CIBC Asset Management Inc raised its position in Parsons by 3.2% during the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after acquiring an additional 96 shares in the last quarter. Chartwell Investment Partners LLC lifted its stake in Parsons by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after acquiring an additional 117 shares during the last quarter. AE Wealth Management LLC grew its position 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 valued at $471,000 after acquiring an additional 150 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Truist Financial cut their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. KeyCorp boosted their target price on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and raised their price target for the company from $103.00 to $111.00 in a report on Thursday, December 12th. Finally, Raymond James downgraded shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective on the stock. in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Parsons presently has a consensus rating of “Buy” and a consensus target price of $108.88.

Parsons Trading Up 1.4 %

Shares of Parsons stock opened at $97.89 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a 50-day moving average of $103.03 and a 200-day moving average of $93.12. Parsons Co. has a 52-week low of $61.35 and a 52-week high of $114.68. The stock has a market cap of $10.39 billion, a PE ratio of 148.32, a PEG ratio of 1.72 and a beta of 0.74.

Parsons (NYSE:PSN) last posted 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. 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 the consensus estimate of $1.63 billion. As a group, sell-side analysts forecast that Parsons Co. will post 3.02 EPS for the current year.

About Parsons

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.