State of New Jersey Common Pension Fund D Takes Position in Parsons Co. (NYSE:PSN)

State of New Jersey Common Pension Fund D acquired a new position in Parsons Co. (NYSE:PSN) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 20,953 shares of the company’s stock, valued at approximately $2,172,000.

A number of other hedge funds have also bought and sold shares of PSN. V Square Quantitative Management LLC purchased a new stake in shares of Parsons during the 3rd quarter valued at about $33,000. Capital Performance Advisors LLP purchased a new stake in Parsons in the third quarter worth approximately $45,000. Tanglewood Legacy Advisors LLC bought a new stake in Parsons in the 2nd quarter worth approximately $44,000. DekaBank Deutsche Girozentrale purchased a new stake in Parsons during the 3rd quarter valued at $72,000. Finally, Blue Trust Inc. lifted its holdings in shares of Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after buying an additional 199 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Stock Performance

PSN opened at $100.27 on Friday. The firm has a market cap of $10.65 billion, a P/E ratio of 151.92, a PEG 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 50 day simple moving average of $104.58 and a two-hundred day simple moving average of $89.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55.

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

Analysts Set New Price Targets

Several brokerages recently commented on PSN. Truist Financial reaffirmed a “buy” rating and issued a $108.00 price objective (up previously from $100.00) on shares of Parsons in a report on Thursday, August 1st. 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 research note on Wednesday, October 23rd. KeyCorp increased their price objective on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Benchmark upped their target price on shares of 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 lifted their price target on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Parsons has an average rating of “Moderate Buy” and a consensus target price of $102.11.

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.