Commonwealth Equity Services LLC Decreases Stock Holdings in Parsons Co. (NYSE:PSN)

Commonwealth Equity Services LLC trimmed its holdings in Parsons Co. (NYSE:PSN) by 10.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,522 shares of the company’s stock after selling 2,735 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Parsons were worth $1,951,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. TFO Wealth Partners LLC lifted its stake in Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after purchasing an additional 728 shares in the last quarter. Psagot Value Holdings Ltd. Israel raised its position in shares of Parsons by 700.0% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after buying an additional 973 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Parsons during the 4th quarter valued at approximately $91,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Parsons during the 1st quarter valued at approximately $181,000. Finally, Salem Investment Counselors Inc. raised its position in shares of Parsons by 339.2% during the 1st quarter. Salem Investment Counselors Inc. now owns 2,376 shares of the company’s stock valued at $197,000 after buying an additional 1,835 shares during the period. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Stock Down 1.4 %

NYSE:PSN traded down $1.12 during midday trading on Friday, reaching $79.49. The company had a trading volume of 117,731 shares, compared to its average volume of 878,028. The stock’s fifty day simple moving average is $77.81 and its 200-day simple moving average is $74.85. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Parsons Co. has a 12-month low of $46.85 and a 12-month high of $85.44. The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of 441.17, a PEG ratio of 2.37 and a beta of 0.81.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. Parsons had a return on equity of 11.27% and a net margin of 0.49%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.37 billion. On average, sell-side analysts anticipate that Parsons Co. will post 2.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. TD Cowen raised shares of Parsons from a “hold” rating to a “buy” rating and lifted their price target for the company from $77.00 to $90.00 in a research report on Friday, May 3rd. Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Parsons in a research report on Thursday, April 4th. Raymond James upgraded Parsons from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $82.00 to $95.00 in a research report on Wednesday, May 1st. Finally, Robert W. Baird boosted their price objective on Parsons from $85.00 to $89.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $85.50.

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.