Parsons Corporation $PSN Shares Bought by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Parsons Corporation (NYSE:PSN - Free Report) by 22.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,410 shares of the company's stock after acquiring an additional 3,745 shares during the quarter. Police & Firemen s Retirement System of New Jersey's holdings in Parsons were worth $1,465,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Banque Transatlantique SA purchased a new stake in Parsons during the first quarter worth approximately $34,000. True Wealth Design LLC increased its stake in Parsons by 63.9% in the second quarter. True Wealth Design LLC now owns 485 shares of the company's stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. Signaturefd LLC raised its holdings in Parsons by 63.1% during the first quarter. Signaturefd LLC now owns 610 shares of the company's stock worth $36,000 after purchasing an additional 236 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Parsons by 38.0% during the 1st quarter. NewEdge Advisors LLC now owns 959 shares of the company's stock worth $57,000 after buying an additional 264 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Parsons by 433.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company's stock worth $75,000 after buying an additional 1,024 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Robert W. Baird increased their target price on shares of Parsons from $92.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. UBS Group began coverage on shares of Parsons in a research note on Wednesday. They issued a "buy" rating and a $107.00 price objective for the company. KeyCorp lifted their target price on Parsons from $87.00 to $93.00 and gave the stock an "overweight" rating in a research report on Monday, October 20th. Baird R W raised Parsons from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Finally, William Blair raised Parsons from a "market perform" rating to an "outperform" rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Parsons has a consensus rating of "Moderate Buy" and an average price target of $92.82.

View Our Latest Report on PSN

Parsons Price Performance

Shares of NYSE:PSN opened at $82.08 on Friday. Parsons Corporation has a one year low of $54.56 and a one year high of $101.92. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 4.31 and a beta of 0.62. The company has a 50-day simple moving average of $83.35 and a 200-day simple moving average of $76.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.67 and a current ratio of 1.67.

Parsons (NYSE:PSN - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.12. The firm had revenue of $1.62 billion for the quarter, compared to analysts' expectations of $1.67 billion. Parsons had a return on equity of 11.98% and a net margin of 3.69%.The firm's revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. Parsons has set its FY 2025 guidance at EPS. On average, analysts predict that Parsons Corporation will post 3.58 EPS for the current year.

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.

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