First Hawaiian Bank Has $3.65 Million Position in Parsons Co. (NYSE:PSN)

First Hawaiian Bank increased its position in shares of Parsons Co. (NYSE:PSN) by 48.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,523 shares of the company’s stock after acquiring an additional 12,964 shares during the quarter. First Hawaiian Bank’s holdings in Parsons were worth $3,646,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares during the period. True Wealth Design LLC acquired a new stake in shares of Parsons during the third quarter worth about $30,000. V Square Quantitative Management LLC bought a new position in shares of Parsons during the 3rd quarter valued at about $33,000. Capital Performance Advisors LLP acquired a new position in shares of Parsons in the 3rd quarter valued at approximately $45,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Parsons during the 3rd quarter worth approximately $72,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and upped their price target for the company from $103.00 to $111.00 in a report on Thursday, December 12th. KeyCorp reduced their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday. Robert W. Baird lifted their price target on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Truist Financial decreased their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Parsons currently has an average rating of “Moderate Buy” and a consensus target price of $108.25.

Parsons Stock Up 1.3 %

Shares of Parsons stock traded up $1.15 on Wednesday, reaching $91.69. 879,903 shares of the company were exchanged, compared to its average volume of 960,761. Parsons Co. has a one year low of $62.13 and a one year high of $114.68. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $98.77 and a 200 day moving average of $95.05. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 138.93, a PEG ratio of 1.72 and a beta of 0.74.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. On average, equities research analysts forecast that Parsons Co. will post 3.02 earnings per share 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.