nVerses Capital LLC Acquires New Position in Parsons Co. (NYSE:PSN)

nVerses Capital LLC acquired a new stake in Parsons Co. (NYSE:PSN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,000 shares of the company’s stock, valued at approximately $726,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. AE Wealth Management LLC lifted its stake in shares of Parsons by 2.7% in the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock valued at $471,000 after purchasing an additional 150 shares during the period. EntryPoint Capital LLC raised its position in 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 acquiring an additional 196 shares during the last quarter. Blue Trust Inc. raised its position in Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after acquiring an additional 199 shares during the last quarter. Certified Advisory Corp raised its position in Parsons by 6.2% during the second quarter. Certified Advisory Corp now owns 4,743 shares of the company’s stock worth $388,000 after acquiring an additional 278 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Parsons by 2.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,992 shares of the company’s stock worth $1,161,000 after acquiring an additional 311 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Trading Up 0.5 %

Parsons stock traded up $0.53 during trading on Thursday, reaching $108.67. The company had a trading volume of 63,848 shares, compared to its average volume of 892,118. Parsons Co. has a 12-month low of $55.22 and a 12-month high of $109.55. The stock’s 50 day moving average price is $98.67 and its two-hundred day moving average price is $85.98. The firm has a market capitalization of $15.95 billion, a price-to-earnings ratio of 600.83, a PEG ratio of 2.31 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.18. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.53 billion. As a group, equities analysts expect that Parsons Co. will post 2.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PSN shares. Robert W. Baird lifted their target price on shares of Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Stifel Nicolaus lifted their target price on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Truist Financial restated a “buy” rating and set a $108.00 target price (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Benchmark boosted their price objective on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, KeyCorp boosted their price objective on shares of Parsons from $99.00 to $116.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Parsons currently has a consensus rating of “Buy” and a consensus price target of $96.78.

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.