Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Purchases 733 Shares of Parsons Co. (NYSE:PSN)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Parsons Co. (NYSE:PSNGet Rating) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,220 shares of the company’s stock after acquiring an additional 733 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Parsons were worth $675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PSN. Price T Rowe Associates Inc. MD lifted its position in shares of Parsons by 56.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,931,806 shares of the company’s stock worth $158,924,000 after buying an additional 1,420,028 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Parsons during the 1st quarter worth approximately $20,520,000. abrdn plc bought a new position in shares of Parsons during the 2nd quarter worth approximately $17,585,000. Vanguard Group Inc. lifted its position in shares of Parsons by 15.2% during the 1st quarter. Vanguard Group Inc. now owns 3,128,822 shares of the company’s stock worth $121,084,000 after buying an additional 412,992 shares during the period. Finally, Intrinsic Edge Capital Management LLC bought a new position in shares of Parsons during the 2nd quarter worth approximately $14,157,000. Institutional investors own 99.59% of the company’s stock.

Parsons Stock Down 0.4 %

NYSE PSN opened at $41.93 on Friday. The stock has a fifty day moving average of $46.50 and a 200-day moving average of $43.85. The stock has a market capitalization of $4.34 billion, a P/E ratio of 47.11, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89. Parsons Co. has a 52 week low of $29.25 and a 52 week high of $50.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.40 and a current ratio of 1.40.

Parsons (NYSE:PSNGet Rating) last released its earnings results on Wednesday, November 2nd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). Parsons had a net margin of 2.41% and a return on equity of 8.98%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.05 billion. On average, equities research analysts forecast that Parsons Co. will post 1.66 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PSN shares. Bank of America cut Parsons from a “neutral” rating to an “underperform” rating and raised their price target for the company from $43.00 to $49.00 in a report on Thursday, December 1st. Robert W. Baird started coverage on Parsons in a report on Wednesday, December 21st. They set a “neutral” rating and a $50.00 price target for the company. The Goldman Sachs Group raised their price target on Parsons from $43.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 3rd. Raymond James raised their price target on Parsons from $46.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. Finally, Cowen raised their price target on Parsons to $51.00 in a report on Wednesday, November 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $48.63.

Parsons Company Profile

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Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cyber security and intelligence services, as well as offensive and defensive cybersecurity platforms, tools, and operations to the U.S.

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Institutional Ownership by Quarter for Parsons (NYSE:PSN)

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