Royal Fund Management LLC Makes New $205,000 Investment in Parsons Co. (NYSE:PSN)

Royal Fund Management LLC bought a new stake in Parsons Co. (NYSE:PSN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,276 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of Parsons in the third quarter valued at about $38,000. Covestor Ltd lifted its stake in shares of Parsons by 126.0% during the third quarter. Covestor Ltd now owns 1,521 shares of the company’s stock valued at $83,000 after buying an additional 848 shares during the period. Legacy Wealth Asset Management LLC purchased a new position in Parsons during the third quarter worth about $204,000. Blackston Financial Advisory Group LLC acquired a new stake in shares of Parsons in the fourth quarter worth approximately $205,000. Finally, Ingalls & Snyder LLC acquired a new stake in Parsons during the fourth quarter worth about $210,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PSN shares. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Parsons in a research note on Thursday, April 4th. Truist Financial upped their price target on Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Robert W. Baird increased their price objective on shares of Parsons from $85.00 to $89.00 and gave the stock an “outperform” rating in a research note on Thursday. KeyCorp upped their target price on Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, The Goldman Sachs Group boosted their price objective on Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $83.10.

Parsons Price Performance

Shares of NYSE:PSN traded up $1.17 on Friday, reaching $78.47. 801,569 shares of the company traded hands, compared to its average volume of 762,251. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.52. The stock has a market capitalization of $8.30 billion, a PE ratio of 435.94, a P/E/G ratio of 3.44 and a beta of 0.86. The company’s 50 day moving average is $80.90 and its 200-day moving average is $69.80. Parsons Co. has a fifty-two week low of $42.79 and a fifty-two week high of $85.44.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. The firm had revenue of $1.50 billion during 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 company’s revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS. As a group, analysts anticipate that Parsons Co. will post 2.57 earnings per share for the current fiscal 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.