Parsons Co. (NYSE:PSN) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. cut its position in Parsons Co. (NYSE:PSN) by 16.5% during the third quarter, HoldingsChannel.com reports. The fund owned 191,536 shares of the company’s stock after selling 37,842 shares during the period. Eagle Asset Management Inc.’s holdings in Parsons were worth $21,584,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PSN. Wedge Capital Management L L P NC acquired a new stake in shares of Parsons in the third quarter worth approximately $62,514,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Parsons by 61.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock worth $116,471,000 after acquiring an additional 428,662 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Parsons by 10.2% in the first quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock worth $376,997,000 after acquiring an additional 421,085 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Parsons in the second quarter worth approximately $29,302,000. Finally, Appian Way Asset Management LP boosted its stake in shares of Parsons by 649.9% in the second quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock worth $32,303,000 after acquiring an additional 342,200 shares during the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Price Performance

PSN stock opened at $99.04 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $10.52 billion, a PE ratio of 150.06, a P/E/G ratio of 1.77 and a beta of 0.80. Parsons Co. has a 12-month low of $61.10 and a 12-month high of $114.68. The business’s fifty day moving average price is $104.85 and its 200 day moving average price is $90.63.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.07. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. On average, sell-side analysts anticipate that Parsons Co. will post 3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial lowered their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird lifted their price objective on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. KeyCorp lifted their price objective on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Benchmark lifted their price objective on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price on the stock. in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Parsons has a consensus rating of “Moderate Buy” and an average price target of $105.13.

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.