Legato Capital Management LLC Has $963,000 Stake in Parsons Co. (NYSE:PSN)

Legato Capital Management LLC lifted its stake in shares of Parsons Co. (NYSE:PSN) by 9.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,771 shares of the company’s stock after purchasing an additional 1,019 shares during the period. Legato Capital Management LLC’s holdings in Parsons were worth $963,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Parsons by 10.2% in the first quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock valued at $376,997,000 after buying an additional 421,085 shares during the period. Dimensional Fund Advisors LP increased its stake in Parsons by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,393,813 shares of the company’s stock valued at $87,407,000 after purchasing an additional 105,648 shares in the last quarter. Principal Financial Group Inc. increased its stake in Parsons by 162.5% in the first quarter. Principal Financial Group Inc. now owns 1,005,140 shares of the company’s stock valued at $83,376,000 after purchasing an additional 622,243 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Parsons by 22.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 694,704 shares of the company’s stock valued at $56,834,000 after purchasing an additional 128,061 shares in the last quarter. Finally, Norges Bank bought a new stake in Parsons in the fourth quarter valued at approximately $37,854,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Trading Up 0.3 %

Shares of PSN stock traded up $0.30 during mid-day trading on Tuesday, hitting $94.97. The company’s stock had a trading volume of 155,007 shares, compared to its average volume of 872,717. The company’s fifty day simple moving average is $84.00 and its 200-day simple moving average is $80.52. Parsons Co. has a 52 week low of $53.56 and a 52 week high of $95.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market cap of $13.94 billion, a PE ratio of 528.50, a P/E/G ratio of 2.06 and a beta of 0.81.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.18. Parsons had a return on equity of 12.09% and a net margin of 0.89%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.53 billion. As a group, equities research analysts expect that Parsons Co. will post 2.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Cowen raised shares of Parsons from a “hold” rating to a “buy” rating and increased their price objective for the stock from $77.00 to $90.00 in a research report on Friday, May 3rd. Robert W. Baird increased their price target on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Benchmark increased their price target on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. KeyCorp increased their price target on shares of Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Raymond James upgraded shares of Parsons from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $82.00 to $95.00 in a research note on Wednesday, May 1st. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $94.67.

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.