Parsons Co. (NYSE:PSN) Shares Sold by Brookstone Capital Management

Brookstone Capital Management cut its holdings in shares of Parsons Co. (NYSE:PSNFree Report) by 26.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,719 shares of the company’s stock after selling 3,142 shares during the quarter. Brookstone Capital Management’s holdings in Parsons were worth $547,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of PSN. Legal & General Group Plc raised its stake in shares of Parsons by 5.8% in the 3rd quarter. Legal & General Group Plc now owns 536,292 shares of the company’s stock valued at $29,147,000 after acquiring an additional 29,225 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Parsons in the 3rd quarter valued at approximately $1,117,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Parsons in the 3rd quarter valued at approximately $984,000. Van ECK Associates Corp raised its stake in shares of Parsons by 68.0% in the 3rd quarter. Van ECK Associates Corp now owns 21,559 shares of the company’s stock valued at $1,172,000 after acquiring an additional 8,724 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Parsons by 189.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 22,069 shares of the company’s stock valued at $1,199,000 after acquiring an additional 14,456 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Trading Up 0.1 %

NYSE PSN opened at $82.37 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. Parsons Co. has a 52 week low of $42.22 and a 52 week high of $84.19. The stock has a market capitalization of $8.72 billion, a PE ratio of 58.01, a price-to-earnings-growth ratio of 3.68 and a beta of 0.85. The firm has a 50 day moving average of $74.19 and a two-hundred day moving average of $64.94.

Parsons (NYSE:PSNGet Free Report) last posted its earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.33 billion. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The company’s revenue was up 36.4% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS. As a group, research analysts expect that Parsons Co. will post 2.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PSN shares. The Goldman Sachs Group boosted their price target on shares of Parsons from $65.00 to $73.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. Truist Financial upped their target price on shares of Parsons from $74.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Robert W. Baird upped their target price on shares of Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Finally, KeyCorp upped their target price on shares of Parsons from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parsons has an average rating of “Moderate Buy” and an average target price of $73.22.

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About Parsons

(Free Report)

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.

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Institutional Ownership by Quarter for Parsons (NYSE:PSN)

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