Parsons Co. (NYSE:PSN) Holdings Trimmed by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. lowered its holdings in Parsons Co. (NYSE:PSN) by 99.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,119 shares of the company’s stock after selling 940,156 shares during the period. Ameritas Investment Partners Inc.’s holdings in Parsons were worth $342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in 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 acquiring an additional 131,617 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of 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 purchasing an additional 327 shares during the period. Blackston Financial Advisory Group LLC acquired a new position in Parsons in the 4th quarter valued at approximately $205,000. Hengehold Capital Management LLC acquired a new stake in shares of Parsons during the 4th quarter valued at $1,245,000. Finally, Clarus Wealth Advisors acquired a new position in shares of Parsons in the fourth quarter worth $213,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Down 1.8 %

Shares of PSN opened at $77.81 on Thursday. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of 432.30, a PEG ratio of 2.35 and a beta of 0.81. Parsons Co. has a 52 week low of $46.97 and a 52 week high of $85.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The business’s fifty day moving average price is $77.93 and its two-hundred day moving average price is $76.50.

Parsons (NYSE:PSN) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Parsons had a return on equity of 11.27% and a net margin of 0.49%. On average, analysts predict that Parsons Co. will post 2.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Robert W. Baird upped their price target on Parsons from $85.00 to $89.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Raymond James raised Parsons from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $82.00 to $95.00 in a research report on Wednesday, May 1st. Benchmark restated a “buy” rating and issued a $68.00 price objective on shares of Parsons in a research note on Thursday, April 4th. Stifel Nicolaus upped their price objective 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. Finally, Truist Financial lifted their price objective on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $85.50.

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.