Burney Co. Purchases 530 Shares of Parsons Co. (NYSE:PSN)

Burney Co. grew its position in Parsons Co. (NYSE:PSN) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 25,352 shares of the company’s stock after buying an additional 530 shares during the period. Burney Co.’s holdings in Parsons were worth $2,339,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new position in shares of Parsons in the 4th quarter worth about $26,000. GAMMA Investing LLC increased its holdings in Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after purchasing an additional 218 shares in the last quarter. True Wealth Design LLC acquired a new position in Parsons in the third quarter valued at approximately $30,000. V Square Quantitative Management LLC bought a new position in shares of Parsons during the 3rd quarter worth approximately $33,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Parsons during the 3rd quarter worth approximately $45,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSN has been the topic of a number of research reports. Truist Financial dropped their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Robert W. Baird raised their price objective on 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 Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.25.

Parsons Stock Up 1.0 %

Shares of NYSE:PSN opened at $95.38 on Thursday. The stock has a market cap of $10.13 billion, a price-to-earnings ratio of 144.52, a PEG ratio of 1.38 and a beta of 0.74. The business’s 50 day moving average is $96.79 and its 200 day moving average is $95.46. Parsons Co. has a 12-month low of $64.33 and a 12-month high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN) last posted 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 firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. On average, sell-side analysts forecast that Parsons Co. will post 3.02 earnings per share 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.