Mount Yale Investment Advisors LLC Takes Position in Parsons Co. (NYSE:PSN)

Mount Yale Investment Advisors LLC acquired a new position in shares of Parsons Co. (NYSE:PSN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,500 shares of the company’s stock, valued at approximately $231,000.

Several other large investors have also modified their holdings of PSN. State Street Corp lifted its position in Parsons by 60.6% during the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after acquiring an additional 616,707 shares during the last quarter. Principal Financial Group Inc. increased its stake in Parsons by 18.1% in the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after acquiring an additional 183,117 shares during the period. Allspring Global Investments Holdings LLC raised its holdings 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 worth $116,471,000 after buying an additional 428,662 shares in the last quarter. Geode Capital Management LLC grew its position in Parsons by 14.0% in the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after acquiring an additional 95,040 shares during the period. Finally, Wedge Capital Management L L P NC raised its stake in Parsons by 12.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 680,311 shares of the company’s stock worth $62,759,000 after acquiring an additional 77,358 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

Parsons Trading Up 0.1 %

PSN opened at $80.11 on Thursday. The firm has a 50 day simple moving average of $94.04 and a 200 day simple moving average of $96.23. 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 Co. has a fifty-two week low of $64.33 and a fifty-two week high of $114.68. The company has a market cap of $8.51 billion, a price-to-earnings ratio of 121.38, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, beating 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, sell-side analysts anticipate that Parsons Co. will post 3.02 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on PSN. KeyCorp lowered their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. TD Cowen reduced their price objective on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group cut their price target on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, Truist Financial decreased their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.33.

Parsons 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.