Western Wealth Management LLC Cuts Stock Holdings in Parsons Co. (NYSE:PSN)

Western Wealth Management LLC reduced its position in shares of Parsons Co. (NYSE:PSN) by 1.8% in the 4th quarter, HoldingsChannel reports. The firm owned 9,962 shares of the company’s stock after selling 187 shares during the period. Western Wealth Management LLC’s holdings in Parsons were worth $625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in Parsons by 1.5% during the third quarter. Arizona State Retirement System now owns 11,942 shares of the company’s stock worth $649,000 after purchasing an additional 178 shares in the last quarter. Guggenheim Capital LLC grew its position in Parsons by 1.8% during the first quarter. Guggenheim Capital LLC now owns 15,193 shares of the company’s stock worth $588,000 after buying an additional 269 shares during the period. Tower Research Capital LLC TRC grew its position in Parsons by 60.6% during the third quarter. Tower Research Capital LLC TRC now owns 782 shares of the company’s stock worth $43,000 after buying an additional 295 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Parsons by 7.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 4,733 shares of the company’s stock worth $297,000 after buying an additional 327 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Parsons by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 60,477 shares of the company’s stock worth $2,707,000 after buying an additional 327 shares during the period. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Stock Performance

NYSE:PSN opened at $77.49 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The company has a market cap of $8.20 billion, a P/E ratio of 54.57, a P/E/G ratio of 3.47 and a beta of 0.85. Parsons Co. has a fifty-two week low of $42.22 and a fifty-two week high of $85.44. The firm’s 50 day moving average is $80.00 and its two-hundred day moving average is $68.34.

Parsons (NYSE:PSN) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. The company 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%. Parsons’s revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. Analysts expect that Parsons Co. will post 2.55 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on PSN shares. 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 report on Thursday, February 15th. Benchmark restated a “buy” rating and set a $68.00 target price on shares of Parsons in a research report on Thursday, April 4th. The Goldman Sachs Group increased their price target on shares of Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial increased their price target on shares of Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, KeyCorp raised their target price on shares of Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.00.

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.