New York State Teachers Retirement System Increases Stock Position in Parsons Co. (NYSE:PSN)

New York State Teachers Retirement System boosted its holdings in shares of Parsons Co. (NYSE:PSN) by 24.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,699 shares of the company’s stock after buying an additional 715 shares during the quarter. New York State Teachers Retirement System’s holdings in Parsons were worth $232,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PSN. Raymond James & Associates lifted its holdings in Parsons by 36.5% during the first quarter. Raymond James & Associates now owns 15,876 shares of the company’s stock worth $614,000 after buying an additional 4,243 shares during the period. Group One Trading L.P. purchased a new stake in Parsons during the first quarter worth $27,000. HighTower Advisors LLC purchased a new stake in Parsons during the first quarter worth $242,000. MetLife Investment Management LLC lifted its holdings in Parsons by 54.2% during the first quarter. MetLife Investment Management LLC now owns 15,664 shares of the company’s stock worth $606,000 after buying an additional 5,504 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Parsons by 45.4% during the first quarter. Dimensional Fund Advisors LP now owns 693,177 shares of the company’s stock worth $26,827,000 after purchasing an additional 216,326 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Price Performance

NYSE PSN opened at $77.47 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.52. The stock’s fifty day moving average price is $80.00 and its 200 day moving average price is $68.24. Parsons Co. has a 1 year low of $42.22 and a 1 year high of $85.44. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 54.56, a PEG ratio of 3.52 and a beta of 0.85.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $1.33 billion. During the same period in the prior year, the firm earned $0.45 EPS. The firm’s revenue was up 36.4% on a year-over-year basis. As a group, equities research analysts forecast that Parsons Co. will post 2.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. 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. Truist Financial upped their price target on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Parsons in a research report on Thursday, April 4th. KeyCorp upped their price target on Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, The Goldman Sachs Group upped their price target on Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

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.