Sequoia Financial Advisors LLC Buys 2,246 Shares of Parsons Co. (NYSE:PSN)

Sequoia Financial Advisors LLC lifted its stake in Parsons Co. (NYSE:PSN) by 53.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,479 shares of the company’s stock after buying an additional 2,246 shares during the period. Sequoia Financial Advisors LLC’s holdings in Parsons were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of Parsons by 5.8% in the third quarter. Legal & General Group Plc now owns 536,292 shares of the company’s stock valued at $29,147,000 after buying an additional 29,225 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Parsons in the third quarter valued at approximately $1,117,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Parsons during the third quarter valued at approximately $984,000. Van ECK Associates Corp raised its position in Parsons by 68.0% during the third quarter. Van ECK Associates Corp now owns 21,559 shares of the company’s stock valued at $1,172,000 after purchasing an additional 8,724 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in Parsons by 189.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 22,069 shares of the company’s stock valued at $1,199,000 after purchasing an additional 14,456 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Stock Performance

Shares of PSN opened at $78.56 on Thursday. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $8.31 billion, a P/E ratio of 55.32, a price-to-earnings-growth ratio of 3.54 and a beta of 0.85. The firm’s fifty day simple moving average is $79.60 and its two-hundred day simple moving average is $68.02. Parsons Co. has a 12 month low of $42.22 and a 12 month high of $85.44.

Parsons (NYSE:PSN) last issued its quarterly 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. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. As a group, analysts predict that Parsons Co. will post 2.55 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PSN. Truist Financial upped their price target on shares of Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group upped their price target on shares of Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday. Benchmark restated a “buy” rating and issued a $68.00 price objective on shares of Parsons in a report on Thursday, April 4th. KeyCorp increased their price objective on Parsons from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, Robert W. Baird increased their price objective on Parsons from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.78.

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.