abrdn plc Acquires 25,642 Shares of Parsons Co. (NYSE:PSN)

abrdn plc increased its position in Parsons Co. (NYSE:PSN - Free Report) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 464,462 shares of the company's stock after acquiring an additional 25,642 shares during the quarter. abrdn plc owned about 0.44% of Parsons worth $29,126,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PSN. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Parsons in the 3rd quarter worth $27,952,000. Eagle Asset Management Inc. acquired a new stake in Parsons in the 3rd quarter worth $9,943,000. Redwood Investments LLC acquired a new stake in Parsons in the 3rd quarter worth $9,937,000. Charles Schwab Investment Management Inc. grew its position in 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 purchasing an additional 161,592 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in 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 purchasing an additional 131,617 shares during the last quarter. Institutional investors own 98.02% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Parsons from $73.00 to $81.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 16th. KeyCorp lifted their target price on shares of Parsons from $89.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday. Benchmark reiterated a "buy" rating and set a $68.00 target price on shares of Parsons in a research report on Thursday, April 4th. Robert W. Baird lifted their target price on shares of Parsons from $75.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, February 15th. Finally, Truist Financial lifted their target price 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $79.00.

Parsons Price Performance

NYSE:PSN traded up $1.42 on Tuesday, reaching $79.30. The stock had a trading volume of 434,045 shares, compared to its average volume of 891,844. Parsons Co. has a 1-year low of $42.22 and a 1-year high of $85.44. The company has a market capitalization of $8.39 billion, a P/E ratio of 54.84, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $80.20 and a 200-day moving average price of $68.60.

Parsons (NYSE:PSN - Get Free Report) last announced its earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share 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 during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The company's revenue was up 36.4% on a year-over-year basis. Research analysts forecast that Parsons Co. will post 2.55 EPS for the current year.

Parsons Company 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.