Harel Insurance Investments & Financial Services Ltd. Buys 2,739 Shares of Parsons Co. (NYSE:PSN)

Harel Insurance Investments & Financial Services Ltd. grew its position in Parsons Co. (NYSE:PSN) by 51.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,017 shares of the company’s stock after purchasing an additional 2,739 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Parsons were worth $740,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PSN. State Street Corp grew its stake in shares of Parsons by 60.6% during the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after purchasing an additional 616,707 shares during the last quarter. Principal Financial Group Inc. increased its position in Parsons by 18.1% in the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock worth $123,685,000 after purchasing an additional 183,117 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Parsons by 61.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock worth $116,471,000 after purchasing an additional 428,662 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Parsons by 14.0% during the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock worth $80,146,000 after buying an additional 95,040 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in Parsons by 12.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 680,311 shares of the company’s stock valued at $62,759,000 after acquiring an additional 77,358 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Truist Financial reduced their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group decreased their target price on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and raised their target price for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Raymond James downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, KeyCorp lowered their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.33.

Parsons Stock Performance

Shares of PSN stock opened at $83.71 on Friday. The stock has a market cap of $8.89 billion, a P/E ratio of 126.83, a P/E/G ratio of 1.42 and a beta of 0.74. Parsons Co. has a one year low of $64.33 and a one year high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The company has a fifty day moving average price of $94.81 and a two-hundred day moving average price of $95.91.

Parsons (NYSE:PSN) last issued its quarterly earnings results 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. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. As a group, equities analysts predict that Parsons Co. will post 3.02 EPS for the current 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.