Parsons Co. (NYSE:PSN) is Appian Way Asset Management LP’s 7th Largest Position

Appian Way Asset Management LP lowered its position in Parsons Co. (NYSE:PSN) by 44.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 220,307 shares of the company’s stock after selling 174,548 shares during the period. Parsons comprises about 5.1% of Appian Way Asset Management LP’s investment portfolio, making the stock its 7th largest holding. Appian Way Asset Management LP’s holdings in Parsons were worth $22,841,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Tidal Investments LLC purchased a new position in Parsons during the 1st quarter valued at $853,000. First Hawaiian Bank increased its stake in Parsons by 14.0% in the 2nd quarter. First Hawaiian Bank now owns 26,646 shares of the company’s stock worth $2,180,000 after buying an additional 3,276 shares during the period. Moody National Bank Trust Division bought a new stake in Parsons during the 2nd quarter valued at about $287,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Parsons in the second quarter valued at approximately $2,125,000. Finally, Clarus Wealth Advisors raised its position in Parsons by 21.6% during the 2nd quarter. Clarus Wealth Advisors now owns 3,163 shares of the company’s stock valued at $251,000 after purchasing an additional 561 shares in the last quarter. Institutional investors own 98.02% of the company’s stock.

Parsons Price Performance

Shares of PSN opened at $95.98 on Friday. The company has a 50 day moving average of $104.61 and a two-hundred day moving average of $91.41. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons Co. has a twelve month low of $61.10 and a twelve month high of $114.68. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 145.43, a price-to-earnings-growth ratio of 1.71 and a beta of 0.80.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. As a group, analysts predict that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PSN shares. Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial lowered their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. KeyCorp lifted their price objective on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Raymond James lowered Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price for the company. in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Parsons presently has an average rating of “Moderate Buy” and an average price target of $105.13.

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.