Parsons Co. (NYSE:PSN) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its stake in Parsons Co. (NYSE:PSN) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,935 shares of the company’s stock after selling 609 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Parsons were worth $3,311,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PSN. V Square Quantitative Management LLC purchased a new stake in shares of Parsons in the third quarter valued at about $33,000. Tanglewood Legacy Advisors LLC acquired a new position in Parsons in the 2nd quarter valued at about $44,000. Capital Performance Advisors LLP purchased a new stake in shares of Parsons in the 3rd quarter valued at approximately $45,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Parsons during the 3rd quarter worth approximately $72,000. Finally, Blue Trust Inc. increased its stake in Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after acquiring an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Trading Down 2.9 %

PSN opened at $97.38 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. Parsons Co. has a one year low of $61.10 and a one year high of $114.68. The company has a market cap of $10.34 billion, a P/E ratio of 147.55, a PEG ratio of 2.00 and a beta of 0.80. The business’s 50-day simple moving average is $104.71 and its 200-day simple moving average is $90.01.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.73 by $0.07. The company had revenue of $1.81 billion for 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, equities research analysts expect that Parsons Co. will post 3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Robert W. Baird upped 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. Benchmark upped their target price on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Raymond James lowered shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective on the stock. in a report on Wednesday, October 23rd. Truist Financial reiterated a “buy” rating and issued a $108.00 target price (up previously from $100.00) on shares of Parsons in a report on Thursday, August 1st. Finally, KeyCorp upped their price target on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.11.

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.