Syntegra Private Wealth Group LLC Makes New $224,000 Investment in Parsons Co. (NYSE:PSN)

Syntegra Private Wealth Group LLC acquired a new position in Parsons Co. (NYSE:PSN) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,159 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors have also recently added to or reduced their stakes in PSN. Seaside Wealth Management Inc. bought a new stake in shares of Parsons in the 1st quarter worth about $1,240,000. Tidal Investments LLC bought a new stake in shares of Parsons in the 1st quarter worth about $853,000. Russell Investments Group Ltd. increased its position in shares of Parsons by 17,130.4% in the 1st quarter. Russell Investments Group Ltd. now owns 9,649 shares of the company’s stock worth $800,000 after purchasing an additional 9,593 shares during the last quarter. Hennessy Advisors Inc. increased its position in shares of Parsons by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 437,900 shares of the company’s stock worth $36,324,000 after purchasing an additional 54,200 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. bought a new stake in shares of Parsons in the 2nd quarter worth about $4,417,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

Parsons stock traded down $0.67 during midday trading on Wednesday, reaching $106.75. 76,519 shares of the stock traded hands, compared to its average volume of 885,887. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average price of $99.89 and a two-hundred day moving average price of $86.70. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 249.82, a PEG ratio of 2.33 and a beta of 0.80. Parsons Co. has a fifty-two week low of $55.22 and a fifty-two week high of $109.55.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.18. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.53 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. On average, equities research analysts forecast that Parsons Co. will post 2.88 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PSN shares. Truist Financial reissued a “buy” rating and issued a $108.00 target price (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. KeyCorp boosted their price objective on shares of Parsons from $99.00 to $116.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Raymond James downgraded shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research report on Wednesday. Finally, Robert W. Baird boosted their price objective on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Parsons presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

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.