First Hawaiian Bank Buys 12,964 Shares of Parsons Co. (NYSE:PSN)

First Hawaiian Bank increased its stake in shares of Parsons Co. (NYSE:PSN) by 48.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 39,523 shares of the company’s stock after buying an additional 12,964 shares during the period. First Hawaiian Bank’s holdings in Parsons were worth $3,646,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. True Wealth Design LLC acquired a new stake in Parsons during the third quarter worth approximately $30,000. GAMMA Investing LLC grew its holdings in Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Parsons during the 3rd quarter worth $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Parsons during the third quarter worth $45,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Parsons in the third quarter valued at about $72,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PSN. Robert W. Baird raised their price target on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. TD Cowen cut their target price on Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday. The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and boosted their price target for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. Truist Financial reduced their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, KeyCorp dropped their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $108.25.

Parsons Price Performance

PSN stock traded up $1.15 during trading on Wednesday, reaching $91.69. 879,903 shares of the company were exchanged, compared to its average volume of 960,761. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 138.93, a P/E/G ratio of 1.72 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The company has a 50-day moving average of $98.77 and a two-hundred day moving average of $95.05. Parsons Co. has a twelve month low of $62.13 and a twelve month high of $114.68.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. As a group, equities analysts predict 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.