Parsons Co. (NYSE:PSN) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Parsons Co. (NYSE:PSN) by 18.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,192,943 shares of the company’s stock after acquiring an additional 183,117 shares during the period. Principal Financial Group Inc. owned approximately 1.12% of Parsons worth $123,685,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSN. True Wealth Design LLC bought a new position in shares of Parsons during the 3rd quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new stake in Parsons during the third quarter valued at approximately $33,000. Capital Performance Advisors LLP bought a new stake in Parsons during the third quarter worth approximately $45,000. DekaBank Deutsche Girozentrale acquired a new position in Parsons in the third quarter worth approximately $72,000. Finally, Optimum Investment Advisors bought a new position in shares of Parsons in the third quarter valued at $145,000. 98.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSN. Robert W. Baird raised their price objective on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Truist Financial dropped their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Raymond James lowered shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research note on Wednesday, October 23rd. KeyCorp lifted their target price on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, TD Cowen raised shares of Parsons to a “strong-buy” rating in a research note on Thursday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $108.88.

Parsons Stock Up 0.6 %

Parsons stock opened at $95.68 on Friday. Parsons Co. has a twelve month low of $61.35 and a twelve month high of $114.68. 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 market cap of $10.16 billion, a PE ratio of 144.97, a P/E/G ratio of 1.72 and a beta of 0.74. The firm’s 50 day moving average price is $102.14 and its two-hundred day moving average price is $93.43.

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