According to the most recent Form 13F filing that the company made with the Securities and Exchange Commission, Strs Ohio increased its holdings in Parsons Co. (NYSE: PSN) by 45.8% during the third quarter. The institutional investor has 21,000 shares of the company’s stock after making additional purchases of 6,600 shares during the time frame in question. This brings the investor’s total number of shares to 21,000. At the close of the most recent accounting period, it was determined that Strs Ohio’s Parsons holdings had an aggregate value of $823,000 for the company.
Several other institutional investors and hedge funds have made recent adjustments to the company’s holdings. These adjustments were made within the past few months. Otter Creek Advisors LLC increased its ownership in Parsons during the third quarter by contributing an additional $3,770,000.00 by purchasing new shares. During the third quarter of the fiscal year, the Toth Financial Advisory Corporation invested in Parsons $490,000. Brookstone Capital Management purchased the additional investment in Parsons for a total cost of 1,414,000 dollars during the third quarter. During the second quarter, Federated Hermes Inc. spent $1,856,000 to acquire an additional position at Parsons.
Last but not least, during the second quarter, Captrust Financial Advisors increased the amount of Parsons stock that it owned, bringing the total to a percentage that was 18.0% higher than before. The most recent quarter saw Captrust Financial Advisors acquire an additional 602 shares of the company’s stock, bringing their total number of shares owned to 3,945, with a value of $159,000. This brings the total number of shares owned in the company to 3,945. Financial institutions hold most of the company’s shares, accounting for 99.59 percent of the total.
Recently, a significant number of analysts working in the field of equity research have demonstrated an interest in PSN stock. Robert W. Baird published a research note on Wednesday, December 21, in which he announced that the company would start covering Parsons shares. They assigned a “neutral” rating to the stock and predicted it would trade between $45.00 and $50.00. Morgan Stanley lowered its rating for Parsons from “equal weight” to “underweight” and set a price target of $40.00 for its stock. A report regarding the investigation was made public on January 3, which was Tuesday. In a research note published on November 3, Raymond James increased their price target on Parsons from $46.00 to $55.00 and gave the stock an “outperform” rating. Trust Financial announced, in a research note published on November 3, that they had increased their price target on Parsons shares to $50.00, up from $42.00. Cowen increased their price objective for Parsons stock to $51.00 and stated in a research report published on November 16 that they believed the stock would reach that level. Four analysts have recommended that investors maintain their company stock holdings.
In comparison, two analysts gave the stock a buy rating, and two gave the stock a sell rating. According to the information provided by Bloomberg, the current average recommendation for Parsons is “Hold,” and the consensus price objective for the company is $48.63. In addition, the average price target for the company is $48.59.
The stock of Parsons was first offered for trading on Monday for $44.82 per share. The company possesses a beta coefficient of 0.89, a market capitalization currently sitting at $4.64 billion, a PE ratio currently sitting at 50.36, and a P/E/G ratio currently sitting at 2.07. The moving average of the company’s stock price over the past 50 days is $47.11, and the moving average over the last 200 days is $43.79. The price of Parsons Company has ranged between $29.25 and $50.15 over the previous 52 weeks, with a low of $29.25 and a high of $50.15. All three financial ratios, including the debt-to-equity ratio, the current ratio, and the quick ratio, total 1.40. The ratio of debt to equity is currently at 0.35.
The most recent quarterly results report for Parsons (NYSE: PSN) was made available to the general public on November 2, 2013, a Wednesday. The company reported earnings for the quarter to be $0.41 per share, which is $0.04 less than the consensus estimate of $0.45 per share for