ORG Wealth Partners LLC Makes New $26,000 Investment in Parsons Co. (NYSE:PSN)

ORG Wealth Partners LLC purchased a new stake in shares of Parsons Co. (NYSE:PSN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 280 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSN. State Street Corp raised its stake in shares of Parsons by 60.6% during the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after acquiring an additional 616,707 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Parsons during the 3rd quarter worth $62,514,000. Allspring Global Investments Holdings LLC lifted its holdings in Parsons by 61.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock worth $116,471,000 after buying an additional 428,662 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Parsons in the 2nd quarter valued at about $29,302,000. Finally, Appian Way Asset Management LP increased 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 valued at $32,303,000 after buying an additional 342,200 shares during the period. 98.02% of the stock is currently owned by institutional investors.

Parsons Price Performance

Shares of NYSE PSN opened at $92.89 on Friday. The firm has a market capitalization of $9.86 billion, a P/E ratio of 140.74, a P/E/G ratio of 1.72 and a beta of 0.74. The firm’s 50-day moving average price is $97.76 and its 200-day moving average price is $95.09. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons Co. has a 1-year low of $63.12 and a 1-year high of $114.68.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. Equities research analysts anticipate that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on PSN shares. Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. KeyCorp reduced their price objective on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial lowered their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Robert W. Baird upped their price target on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.25.

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.