Los Angeles Capital Management LLC Invests $750,000 in Parsons Co. (NYSE:PSN)

Los Angeles Capital Management LLC acquired a new stake in Parsons Co. (NYSE:PSN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,956 shares of the company's stock, valued at approximately $750,000.

Several other hedge funds have also recently added to or reduced their stakes in PSN. DekaBank Deutsche Girozentrale acquired a new stake in shares of Parsons in the 3rd quarter worth $38,000. Covestor Ltd increased its stake in shares of Parsons by 126.0% in the 3rd quarter. Covestor Ltd now owns 1,521 shares of the company's stock worth $83,000 after acquiring an additional 848 shares during the last quarter. Legacy Wealth Asset Management LLC acquired a new stake in shares of Parsons in the 3rd quarter worth $204,000. Blackston Financial Advisory Group LLC acquired a new stake in shares of Parsons in the 4th quarter worth $205,000. Finally, Ingalls & Snyder LLC acquired a new stake in shares of Parsons in the 4th quarter worth $210,000. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Trading Up 2.0 %

NYSE:PSN traded up $1.57 on Friday, reaching $78.58. 957,643 shares of the company's stock were exchanged, compared to its average volume of 731,582. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $11.53 billion, a price-to-earnings ratio of 436.58, a price-to-earnings-growth ratio of 2.86 and a beta of 0.86. The business has a fifty day moving average of $80.64 and a 200-day moving average of $70.62. Parsons Co. has a 52-week low of $42.79 and a 52-week high of $85.44.

Parsons (NYSE:PSN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.13. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.33 billion. Parsons had a net margin of 0.49% and a return on equity of 11.27%. The business's revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, analysts expect that Parsons Co. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PSN. KeyCorp raised their target price on Parsons from $89.00 to $90.00 and gave the stock an "overweight" rating in a research note on Friday, April 19th. Raymond James raised Parsons from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $82.00 to $95.00 in a research report on Wednesday, May 1st. The Goldman Sachs Group boosted their price objective on shares of Parsons from $73.00 to $81.00 and gave the company a "neutral" rating in a report on Tuesday, April 16th. Truist Financial boosted their price objective on shares of Parsons from $84.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, April 9th. Finally, TD Cowen upgraded shares of Parsons from a "hold" rating to a "buy" rating and boosted their price objective for the company from $77.00 to $90.00 in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $83.10.

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.