Federated Hermes Inc. Boosts Holdings in Parsons Co. (NYSE:PSN)

Federated Hermes Inc. grew its stake in Parsons Co. (NYSE:PSN - Free Report) by 11.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 449,244 shares of the company's stock after acquiring an additional 47,676 shares during the quarter. Federated Hermes Inc. owned about 0.43% of Parsons worth $28,172,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PSN. Group One Trading L.P. acquired a new stake in Parsons during the first quarter worth about $27,000. Comerica Bank acquired a new stake in shares of Parsons during the 3rd quarter worth approximately $30,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Parsons during the 3rd quarter valued at approximately $38,000. Tower Research Capital LLC TRC lifted its holdings in Parsons by 60.6% in the third quarter. Tower Research Capital LLC TRC now owns 782 shares of the company's stock valued at $43,000 after acquiring an additional 295 shares during the last quarter. Finally, Altshuler Shaham Ltd grew its position in Parsons by 40.9% in the fourth quarter. Altshuler Shaham Ltd now owns 1,141 shares of the company's stock worth $53,000 after acquiring an additional 331 shares during the period. Hedge funds and other institutional investors own 98.02% of the company's stock.

Parsons Stock Down 0.4 %

Shares of NYSE PSN traded down $0.31 during mid-day trading on Friday, hitting $77.49. The company had a trading volume of 691,424 shares, compared to its average volume of 993,043. The company has a market capitalization of $8.20 billion, a PE ratio of 54.57, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. The business's 50-day simple moving average is $80.00 and its 200 day simple moving average is $68.44. Parsons Co. has a 1-year low of $42.22 and a 1-year high of $85.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.52.

Parsons (NYSE:PSN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.13. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.33 billion. Parsons had a return on equity of 10.32% and a net margin of 2.96%. During the same quarter in the prior year, the business earned $0.45 EPS. Parsons's revenue was up 36.4% on a year-over-year basis. On average, analysts predict that Parsons Co. will post 2.55 earnings per share for the current year.

Analyst Ratings Changes

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

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.