abrdn plc Boosts Holdings in Parsons Co. (NYSE:PSN)

abrdn plc grew its position in shares of Parsons Co. (NYSE:PSN) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 464,462 shares of the company’s stock after buying an additional 25,642 shares during the quarter. abrdn plc’s holdings in Parsons were worth $29,126,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Parsons during the third quarter worth about $27,952,000. Eagle Asset Management Inc. acquired a new stake in shares of Parsons in the 3rd quarter worth approximately $9,943,000. Redwood Investments LLC purchased a new stake in shares of Parsons in the 3rd quarter worth about $9,937,000. Charles Schwab Investment Management Inc. lifted its stake in Parsons by 40.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 559,252 shares of the company’s stock valued at $30,395,000 after buying an additional 161,592 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Parsons by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,119,811 shares of the company’s stock worth $223,912,000 after purchasing an additional 131,617 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PSN shares. Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Parsons in a research report on Thursday, April 4th. Robert W. Baird lifted their price objective on shares of Parsons from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. The Goldman Sachs Group raised their price objective on Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Truist Financial upped their target price on shares of Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Finally, KeyCorp lifted their price objective on shares of Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

Parsons Trading Up 0.5 %

NYSE:PSN opened at $77.87 on Tuesday. The stock’s 50-day moving average is $80.20 and its two-hundred day moving average is $68.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.52. The stock has a market cap of $8.24 billion, a PE ratio of 54.84, a price-to-earnings-growth 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.

Parsons (NYSE:PSN) last issued 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. Parsons had a return on equity of 10.32% and a net margin of 2.96%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. As a group, equities research analysts forecast that Parsons Co. will post 2.55 earnings per share for the current fiscal 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.