Jennison Associates LLC Has $785,000 Stock Position in Parsons Co. (NYSE:PSN)

Jennison Associates LLC decreased its position in shares of Parsons Co. (NYSE:PSNFree Report) by 37.5% in the first quarter, Holdings Channel.com reports. The firm owned 9,462 shares of the company’s stock after selling 5,689 shares during the period. Jennison Associates LLC’s holdings in Parsons were worth $785,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Pullen Investment Management LLC acquired a new stake in Parsons during the first quarter valued at $1,080,000. Janney Montgomery Scott LLC acquired a new stake in shares of Parsons in the first quarter worth about $1,451,000. Van ECK Associates Corp lifted its position in shares of Parsons by 276.2% in the first quarter. Van ECK Associates Corp now owns 144,127 shares of the company’s stock worth $11,955,000 after buying an additional 105,812 shares during the last quarter. SpiderRock Advisors LLC acquired a new stake in shares of Parsons in the first quarter worth about $406,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Parsons in the first quarter worth about $62,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Down 0.7 %

NYSE PSN opened at $78.16 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $77.79 and its two-hundred day moving average is $75.37. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 434.22, a PEG ratio of 2.31 and a beta of 0.81. Parsons Co. has a 1-year low of $46.97 and a 1-year high of $85.44.

Parsons (NYSE:PSNGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.37 billion. Parsons had a return on equity of 11.27% and a net margin of 0.49%. Equities analysts forecast that Parsons Co. will post 2.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Robert W. Baird boosted their price target on Parsons from $85.00 to $89.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Stifel Nicolaus boosted their price target on Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. KeyCorp lifted their price objective on Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. TD Cowen upgraded Parsons from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $77.00 to $90.00 in a research note on Friday, May 3rd. Finally, Truist Financial lifted their price objective on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $85.50.

View Our Latest Stock Report on Parsons

Parsons Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Parsons (NYSE:PSN)

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