Threadgill Financial LLC Buys New Shares in Parsons Co. (NYSE:PSN)

Threadgill Financial LLC purchased a new position in shares of Parsons Co. (NYSE:PSN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,711 shares of the company’s stock, valued at approximately $435,000.

Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Parsons by 60.6% during the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after buying an additional 616,707 shares during the period. Wedge Capital Management L L P NC acquired a new position in Parsons during the 3rd quarter worth approximately $62,514,000. Allspring Global Investments Holdings LLC increased its position in shares of Parsons by 61.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after purchasing an additional 428,662 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Parsons in the 2nd quarter valued at $29,302,000. Finally, Appian Way Asset Management LP lifted its position in shares of Parsons by 649.9% during the 2nd quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock worth $32,303,000 after purchasing an additional 342,200 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of PSN opened at $92.89 on Monday. The company’s 50 day simple moving average is $97.76 and its 200-day simple moving average is $95.29. The firm has a market cap of $9.86 billion, a PE ratio of 140.74, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. Parsons Co. has a 12-month low of $63.12 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.

Parsons (NYSE:PSN) last issued its quarterly earnings data 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 company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. As a group, equities analysts predict that Parsons Co. will post 3.02 EPS for the current year.

Analyst Ratings Changes

PSN has been the topic of several recent analyst reports. TD Cowen dropped their target price on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and increased their price objective for the company from $103.00 to $111.00 in a report on Thursday, December 12th. Truist Financial decreased their target price on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Robert W. Baird increased their price target 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. Finally, KeyCorp lowered their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Parsons presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.25.

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.