Harel Insurance Investments & Financial Services Ltd. Grows Stock Holdings in Parsons Co. (NYSE:PSN)

Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Parsons Co. (NYSE:PSN) by 51.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,017 shares of the company’s stock after purchasing an additional 2,739 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Parsons were worth $740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its holdings in shares of Parsons by 2.1% during the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock valued at $452,000 after buying an additional 90 shares during the last quarter. CIBC Asset Management Inc boosted its position in Parsons by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after acquiring an additional 96 shares during the period. Chartwell Investment Partners LLC grew its stake in shares of Parsons by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock worth $1,507,000 after purchasing an additional 117 shares in the last quarter. AE Wealth Management LLC raised its stake in shares of Parsons by 2.7% during the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock valued at $471,000 after purchasing an additional 150 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after purchasing an additional 218 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Jefferies Financial Group dropped their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday. Truist Financial decreased their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Robert W. Baird increased their price objective on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Finally, KeyCorp decreased their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.33.

Parsons Price Performance

Shares of NYSE:PSN opened at $83.71 on Friday. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 126.83, a PEG ratio of 1.42 and a beta of 0.74. The business has a 50 day moving average price of $94.81 and a 200 day moving average price of $95.91. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons Co. has a twelve month low of $64.33 and a twelve month high of $114.68.

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, topping the consensus estimate of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. Research analysts predict that Parsons Co. will post 3.02 earnings per share for the current year.

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.