Parsons Co. (NYSE:PSN) Shares Sold by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV cut its stake in Parsons Co. (NYSE:PSN) by 31.5% in the third quarter, Holdings Channel reports. The firm owned 2,171 shares of the company’s stock after selling 1,000 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Parsons were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Parsons by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock valued at $376,997,000 after purchasing an additional 421,085 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Parsons by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 2,168,598 shares of the company’s stock valued at $177,413,000 after acquiring an additional 49,891 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Parsons by 18.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after acquiring an additional 183,117 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Parsons by 61.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after buying an additional 428,662 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in Parsons during the third quarter worth about $62,514,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Stock Performance

NYSE PSN opened at $100.27 on Friday. The firm has a market capitalization of $10.65 billion, a P/E ratio of 151.92, a P/E/G ratio of 2.02 and a beta of 0.80. Parsons Co. has a 1-year low of $61.10 and a 1-year high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The business’s 50-day simple moving average is $104.58 and its 200-day simple moving average is $89.94.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial restated a “buy” rating and set a $108.00 target price (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. KeyCorp upped their price target on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target for the company. in a report on Wednesday, October 23rd. Benchmark increased their price objective on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.11.

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.