Oppenheimer & Co. Inc. Has $2.49 Million Stock Position in Parsons Co. (NYSE:PSN)

Oppenheimer & Co. Inc. boosted its stake in shares of Parsons Co. (NYSE:PSN) by 37.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,016 shares of the company’s stock after acquiring an additional 6,577 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Parsons were worth $2,490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Parsons during the third quarter worth approximately $33,000. Tanglewood Legacy Advisors LLC acquired a new position in Parsons during the 2nd quarter worth $44,000. Capital Performance Advisors LLP bought a new position in Parsons in the 3rd quarter valued at $45,000. DekaBank Deutsche Girozentrale bought a new position in Parsons in the 3rd quarter valued at $72,000. Finally, Blue Trust Inc. increased its stake in shares of Parsons by 23.6% in 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. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Trading Down 2.9 %

PSN opened at $97.40 on Friday. The firm’s fifty day moving average is $104.82 and its two-hundred day moving average is $90.14. The firm has a market cap of $10.34 billion, a PE ratio of 147.58, a price-to-earnings-growth ratio of 2.00 and a beta of 0.80. Parsons Co. has a twelve month low of $61.10 and a twelve month high of $114.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on PSN. Truist Financial reiterated a “buy” rating and issued a $108.00 price target (up previously from $100.00) on shares of Parsons in a report on Thursday, August 1st. Raymond James cut shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target for the company. in a research report on Wednesday, October 23rd. Robert W. Baird increased their price objective on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. KeyCorp lifted their target price on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Benchmark increased their price target on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $104.88.

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.