Federated Hermes Inc. Purchases 47,676 Shares of Parsons Co. (NYSE:PSN)

Federated Hermes Inc. lifted its position in Parsons Co. (NYSE:PSN) by 11.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 449,244 shares of the company’s stock after acquiring an additional 47,676 shares during the quarter. Federated Hermes Inc. owned 0.43% of Parsons worth $28,172,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Comerica Bank bought a new stake in shares of Parsons in the 3rd quarter valued at about $30,000. DekaBank Deutsche Girozentrale bought a new position in Parsons in the third quarter worth approximately $38,000. Group One Trading L.P. purchased a new stake in Parsons during the first quarter worth $27,000. Tower Research Capital LLC TRC boosted its position in Parsons by 60.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 782 shares of the company’s stock valued at $43,000 after acquiring an additional 295 shares in the last quarter. Finally, Altshuler Shaham Ltd increased its holdings in shares of Parsons by 40.9% in the 4th quarter. Altshuler Shaham Ltd now owns 1,141 shares of the company’s stock valued at $53,000 after acquiring an additional 331 shares during the period. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Stock Down 0.4 %

Parsons stock opened at $77.49 on Friday. The business’s 50-day simple moving average is $80.00 and its two-hundred day simple moving average is $68.34. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.52 and a current ratio of 1.51. The company has a market cap of $8.20 billion, a PE ratio of 54.57, a PEG ratio of 3.47 and a beta of 0.85. Parsons Co. has a fifty-two week low of $42.22 and a fifty-two week high of $85.44.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. Parsons had a return on equity of 10.32% and a net margin of 2.96%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Parsons’s revenue for the quarter was up 36.4% on a year-over-year basis. Equities analysts anticipate that Parsons Co. will post 2.55 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PSN. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Parsons in a research note on Thursday, April 4th. Truist Financial raised their price target on shares of Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. KeyCorp boosted their price objective on shares of Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group raised their target price on shares of Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Robert W. Baird upped their price target on Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. One research analyst has 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

Parsons Company 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.