Eagle Asset Management Inc. Sells 37,842 Shares of Parsons Co. (NYSE:PSN)

Eagle Asset Management Inc. decreased its position in shares of Parsons Co. (NYSE:PSN) by 16.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 191,536 shares of the company’s stock after selling 37,842 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.18% of Parsons worth $21,584,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc boosted its position in Parsons by 3.2% during the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock valued at $324,000 after purchasing an additional 96 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in Parsons by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after purchasing an additional 117 shares in the last quarter. AE Wealth Management LLC boosted its position in Parsons by 2.7% during the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock valued at $471,000 after purchasing an additional 150 shares in the last quarter. Blue Trust Inc. boosted its position in Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after purchasing an additional 199 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Parsons by 10.7% during the third quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock valued at $285,000 after purchasing an additional 265 shares in the last quarter. Institutional investors own 98.02% of the company’s stock.

Parsons Trading Down 0.4 %

Shares of NYSE:PSN opened at $99.04 on Friday. Parsons Co. has a 52-week low of $61.10 and a 52-week high of $114.68. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 150.06, a PEG ratio of 1.77 and a beta of 0.80. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $104.85 and a 200-day moving average price of $90.63.

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 the consensus estimate of $0.73 by $0.07. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Equities analysts predict that Parsons Co. will post 3.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective on the stock. in a research report on Wednesday, October 23rd. KeyCorp increased their price target on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Benchmark increased their price target on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Truist Financial decreased their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Parsons has an average rating of “Moderate Buy” and an average target price of $105.13.

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.