Parsons Co. (NYSE:PSN) Shares Bought by Jennison Associates LLC

Jennison Associates LLC grew its stake in shares of Parsons Co. (NYSE:PSN) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,151 shares of the company’s stock after acquiring an additional 239 shares during the period. Jennison Associates LLC’s holdings in Parsons were worth $950,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Parsons in the 3rd quarter worth about $27,952,000. Eagle Asset Management Inc. bought a new position in shares of Parsons in the 3rd quarter worth about $9,943,000. Redwood Investments LLC bought a new position in shares of Parsons in the 3rd quarter worth about $9,937,000. Charles Schwab Investment Management Inc. lifted its position in shares of Parsons by 40.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 559,252 shares of the company’s stock worth $30,395,000 after buying an additional 161,592 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Parsons by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,119,811 shares of the company’s stock worth $223,912,000 after buying an additional 131,617 shares during the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSN has been the topic of a number of recent research reports. Robert W. Baird raised their price target on shares of Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. KeyCorp raised their price target on shares of Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Truist Financial lifted their price objective on shares of Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Parsons in a research report on Thursday, April 4th. Finally, The Goldman Sachs Group lifted their price objective on shares of Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Parsons currently has a consensus rating of “Moderate Buy” and an average price target of $79.00.

Parsons Stock Up 0.6 %

PSN stock opened at $79.73 on Friday. Parsons Co. has a 52 week low of $42.22 and a 52 week high of $85.44. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 56.15, a price-to-earnings-growth ratio of 3.54 and a beta of 0.85. The firm’s 50-day moving average is $80.76 and its two-hundred day moving average is $69.17. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm earned $0.45 EPS. Parsons’s revenue was up 36.4% on a year-over-year basis. On average, analysts forecast that Parsons Co. will post 2.57 earnings per share for the current fiscal year.

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.