Migdal Insurance & Financial Holdings Ltd. Sells 5,000 Shares of Parsons Co. (NYSE:PSN)

Migdal Insurance & Financial Holdings Ltd. decreased its holdings in Parsons Co. (NYSE:PSN) by 49.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,060 shares of the company’s stock after selling 5,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Parsons were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Parsons by 3.3% in the third quarter. Vanguard Group Inc. now owns 4,119,811 shares of the company’s stock worth $223,912,000 after acquiring an additional 131,617 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Parsons by 56.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,931,806 shares of the company’s stock valued at $158,924,000 after purchasing an additional 1,420,028 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Parsons by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,541 shares of the company’s stock valued at $54,561,000 after purchasing an additional 20,663 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Parsons by 62.3% in the 1st quarter. New York State Common Retirement Fund now owns 955,855 shares of the company’s stock valued at $42,765,000 after purchasing an additional 366,816 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Parsons by 9.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 927,251 shares of the company’s stock valued at $58,148,000 after purchasing an additional 77,010 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

PSN has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Parsons in a report on Thursday, April 4th. Truist Financial increased their price target on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Robert W. Baird increased their price target on Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. KeyCorp increased their price target on Parsons from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Finally, The Goldman Sachs Group increased their price target on Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Parsons currently has an average rating of “Moderate Buy” and a consensus target price of $77.78.

Parsons Trading Down 1.0 %

Shares of NYSE:PSN opened at $77.80 on Friday. Parsons Co. has a 12-month low of $42.22 and a 12-month high of $85.44. The business’s fifty day simple moving average is $79.81 and its 200-day simple moving average is $68.08. The company has a market capitalization of $8.23 billion, a PE ratio of 54.79, a P/E/G ratio of 3.52 and a beta of 0.85. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. Parsons had a return on equity of 10.32% and a net margin of 2.96%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business posted $0.45 EPS. The business’s revenue was up 36.4% compared to the same quarter last year. As a group, equities research analysts predict that Parsons Co. will post 2.55 earnings per share for the current fiscal year.

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.