Aigen Investment Management LP Makes New Investment in Parsons Co. (NYSE:PSN)

Aigen Investment Management LP purchased a new position in shares of Parsons Co. (NYSE:PSN) during the third quarter, Holdings Channel reports. The firm purchased 9,681 shares of the company’s stock, valued at approximately $1,004,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Parsons by 10.2% in the first quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock valued at $376,997,000 after purchasing an additional 421,085 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Parsons by 2.4% during the second quarter. Earnest Partners LLC now owns 2,168,598 shares of the company’s stock valued at $177,413,000 after purchasing an additional 49,891 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of 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 buying an additional 183,117 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Parsons by 61.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock worth $116,471,000 after purchasing an additional 428,662 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Parsons in the 3rd quarter valued at $62,514,000. Institutional investors own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PSN. Truist Financial restated a “buy” rating and issued a $108.00 price target (up from $100.00) on shares of Parsons in a report on Thursday, August 1st. 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 note on Wednesday, October 23rd. Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. KeyCorp raised their target price on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Benchmark lifted their price objective on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Parsons presently has an average rating of “Moderate Buy” and a consensus target price of $102.11.

Parsons Trading Down 0.3 %

Shares of Parsons stock opened at $112.96 on Wednesday. The stock’s 50-day simple moving average is $103.81 and its 200 day simple moving average is $89.55. Parsons Co. has a 52-week low of $61.10 and a 52-week 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 stock has a market capitalization of $12.00 billion, a P/E ratio of 171.15, a P/E/G ratio of 2.02 and a beta of 0.80.

Parsons (NYSE:PSN) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. As a group, research analysts anticipate that Parsons Co. will post 3.02 EPS for the current year.

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.