Investment Advisory Group LLC Invests $209,000 in Parsons Co. (NYSE:PSN)

Investment Advisory Group LLC acquired a new position in shares of Parsons Co. (NYSE:PSN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,014 shares of the company’s stock, valued at approximately $209,000.

A number of other large investors also recently modified their holdings of PSN. Tanglewood Legacy Advisors LLC acquired a new stake in Parsons in the 2nd quarter valued at about $44,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Parsons in the 1st quarter valued at about $62,000. Blue Trust Inc. lifted its stake in Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after purchasing an additional 199 shares during the last quarter. EntryPoint Capital LLC lifted its stake in Parsons by 17.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock valued at $111,000 after purchasing an additional 196 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Parsons by 109.9% in the 1st quarter. Covestor Ltd now owns 1,604 shares of the company’s stock valued at $133,000 after purchasing an additional 840 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PSN. Stifel Nicolaus raised their target price on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Truist Financial reiterated a “buy” rating and issued a $108.00 target price (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Benchmark raised their price objective on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird raised their price objective on shares of Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, KeyCorp raised their price objective on shares of Parsons from $99.00 to $116.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $96.78.

Parsons Stock Performance

Shares of PSN traded up $0.78 during mid-day trading on Tuesday, hitting $108.61. 885,223 shares of the company’s stock were exchanged, compared to its average volume of 897,709. Parsons Co. has a 52 week low of $55.22 and a 52 week high of $109.26. The stock’s 50-day simple moving average is $97.89 and its 200-day simple moving average is $85.64. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 605.83, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.54.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.59 by $0.18. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.53 billion. On average, equities research analysts expect that Parsons Co. will post 2.88 EPS for the current year.

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.