Aptus Capital Advisors LLC Takes $563,000 Position in Parsons Co. (NYSE:PSN)

Aptus Capital Advisors LLC bought a new position in Parsons Co. (NYSE:PSN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,430 shares of the company’s stock, valued at approximately $563,000.

Other hedge funds also recently bought and sold shares of the company. Chartwell Investment Partners LLC grew its position in shares of Parsons by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock worth $1,507,000 after buying an additional 117 shares during the last quarter. AE Wealth Management LLC boosted its holdings in 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 acquiring an additional 150 shares in the last quarter. EntryPoint Capital LLC increased its position in Parsons by 17.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock valued at $111,000 after purchasing an additional 196 shares during the period. Blue Trust Inc. raised its holdings in Parsons by 23.6% in 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 in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Parsons by 10.7% in the 3rd quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock worth $285,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Price Performance

PSN opened at $97.38 on Friday. Parsons Co. has a 1 year low of $61.10 and a 1 year high of $114.68. The stock has a 50-day moving average price of $104.71 and a 200-day moving average price of $90.01. The firm has a market cap of $10.34 billion, a PE ratio of 147.35, a P/E/G ratio of 2.00 and a beta of 0.80. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Sell-side analysts predict that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PSN shares. Benchmark increased their price target on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Raymond James lowered Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price for the company. in a research report on Wednesday, October 23rd. KeyCorp lifted their price target on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Truist Financial reiterated a “buy” rating and issued a $108.00 price objective (up previously from $100.00) on shares of Parsons in a report on Thursday, August 1st. Finally, Robert W. Baird boosted their target price on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.11.

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.