Parsons Co. (NYSE:PSN) Shares Sold by MML Investors Services LLC

MML Investors Services LLC reduced its position in Parsons Co. (NYSE:PSN) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,242 shares of the company’s stock after selling 1,325 shares during the quarter. MML Investors Services LLC’s holdings in Parsons were worth $2,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in Parsons in the second quarter valued at approximately $286,000. Blue Trust Inc. raised its stake in shares of Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after acquiring an additional 199 shares during the period. Hennessy Advisors Inc. lifted its holdings in shares of Parsons by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 517,100 shares of the company’s stock valued at $42,304,000 after acquiring an additional 79,200 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Parsons by 22.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 694,704 shares of the company’s stock worth $56,834,000 after purchasing an additional 128,061 shares during the period. Finally, Legato Capital Management LLC increased its holdings in Parsons by 9.5% in the 2nd quarter. Legato Capital Management LLC now owns 11,771 shares of the company’s stock valued at $963,000 after purchasing an additional 1,019 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Up 1.4 %

Shares of NYSE:PSN opened at $97.89 on Tuesday. Parsons Co. has a 12-month low of $61.35 and a 12-month high of $114.68. 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 has a market cap of $10.39 billion, a PE ratio of 148.32, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The company has a fifty day simple moving average of $103.03 and a 200 day simple moving average of $93.12.

Parsons (NYSE:PSN) last issued 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 business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. On average, equities research analysts anticipate that Parsons Co. will post 3.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PSN. Raymond James downgraded 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. Truist Financial decreased their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. KeyCorp upped their target price on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird lifted their price target 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. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $108.88.

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.