BY Shaw & Co. Inc. sell 116,510 shares of Parsons Co. (NYSE:PSN)

BY Shaw & Co. Inc. reduced its stake in Parsons Co. (NYSE:PSN – Free Report) by 13.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 762,163 shares of the company’s stock after selling 116,510 shares during the quarter. BY Shaw & Co. Inc. owned 0.72% of Parsons worth $62,353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Parsons by 10.2% in the first quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock worth $376,997,000 after acquiring an additional 421,085 shares during the period. Earnest Partners LLC grew its position in Parsons by 2.4% in the second quarter. Earnest Partners LLC now owns 2,168,598 shares of the company’s stock valued at $177,413,000 after acquiring an additional 49,891 shares during the last quarter. Principal Financial Group Inc. raised its stake in Parsons by 0.5% in the second quarter. Principal Financial Group Inc. now owns 1,009,826 shares of the company’s stock valued at $82,614,000 after purchasing an additional 4,686 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Parsons by 22.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 694,704 shares of the company’s stock valued at $56,834,000 after acquiring an additional 128,061 shares during the period. Finally, Norges Bank acquired a new stake in Parsons in the 4th quarter valued at about $37,854,000. 98.02% of shares are held by hedge funds and other institutional investors.

Parsons stock performance

NYSE:PSN opened at $103.68 on Friday. The company’s 50-day moving average is $91.54, and its two-hundred-day moving average is $83.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80, and a quick ratio of 1.80. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 576.03, a PEG ratio of 2.19 and a beta of 0.80. Parsons Co. has a 1 year low of $53.56 and a 1 year high of $104.06.

Parsons (NYSE:PSN – Get Free Report ) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.18. Parsons had a return on equity of 12.09% and a net margin of 0.89%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Analysts estimate that Parsons Co. will record 2.88 EPS for the current year.

Changes in Analyst Ratings

Several research analysts have recently issued reports on the company. 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. Benchmark boosted their target price on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 1st. KeyCorp raised their target price on shares of Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their price target on Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Finally, Robert W. Baird boosted their price target on Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Parsons currently has a consensus rating of “Buy” and a consensus price target of $94.67, according to MarketBeat.

Check out our latest report on Parsons

About Parsons

(Free Report)

Parsons Corporation provides integrated solutions and services to the defense, intelligence and critical infrastructure markets in North America, the Middle East and internationally. The company operates through the Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies such as cybersecurity; missile defense; intelligence; space and ground launch systems; space and weapon system resistance; geospatial intelligence; signal intelligence; environmental remediation; border security, critical infrastructure protection; against unmanned aerial systems; biometrics and biosurveillance solutions in the US

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