Empowered Funds LLC Purchases New Stake in Parsons Co. (NYSE:PSN)

Empowered Funds LLC purchased a new stake in Parsons Co. (NYSE:PSN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,711 shares of the company's stock, valued at approximately $1,449,000.

A number of other institutional investors also recently modified their holdings of PSN. ORG Wealth Partners LLC acquired a new stake in Parsons during the fourth quarter worth $26,000. GAMMA Investing LLC raised its holdings in Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company's stock worth $29,000 after purchasing an additional 218 shares during the last quarter. True Wealth Design LLC bought a new stake in Parsons during the 3rd quarter worth about $30,000. V Square Quantitative Management LLC bought a new stake in shares of Parsons in the 3rd quarter valued at about $33,000. Finally, R Squared Ltd bought a new stake in shares of Parsons in the 4th quarter valued at about $38,000. Institutional investors own 98.02% of the company's stock.

Parsons Stock Down 5.0 %

NYSE:PSN traded down $3.26 during trading hours on Thursday, reaching $61.82. 4,644,533 shares of the stock were exchanged, compared to its average volume of 1,549,923. Parsons Co. has a twelve month low of $59.90 and a twelve month 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 firm has a 50 day moving average of $87.36 and a 200 day moving average of $95.64. The stock has a market cap of $6.57 billion, a PE ratio of 93.67, a PEG ratio of 1.11 and a beta of 0.73.

Analysts Set New Price Targets

A number of analysts have recently commented on PSN shares. Truist Financial lowered their price target on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group lowered their price target on Parsons from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, January 24th. TD Cowen lowered their price target on Parsons from $117.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Robert W. Baird decreased their price objective on Parsons from $125.00 to $78.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $102.11.

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.