32,959 Shares in Parsons Co. (NYSE:PSN) Bought by Facet Wealth Inc.

Facet Wealth Inc. acquired a new stake in Parsons Co. (NYSE:PSN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 32,959 shares of the company's stock, valued at approximately $3,040,000.

Other large investors also recently modified their holdings of the company. Fisher Asset Management LLC lifted its position in Parsons by 2.1% during the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company's stock valued at $452,000 after purchasing an additional 90 shares during the last quarter. CIBC Asset Management Inc lifted its position in Parsons by 3.2% during the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company's stock valued at $324,000 after purchasing an additional 96 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Parsons by 0.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 32,126 shares of the company's stock valued at $2,964,000 after purchasing an additional 191 shares during the last quarter. GAMMA Investing LLC lifted its position in Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company's stock valued at $29,000 after purchasing an additional 218 shares during the last quarter. Finally, Assetmark Inc. lifted its position in Parsons by 10.7% during the third quarter. Assetmark Inc. now owns 2,750 shares of the company's stock valued at $285,000 after purchasing an additional 265 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Trading Down 3.0 %

Shares of NYSE PSN traded down $1.80 during mid-day trading on Thursday, hitting $59.05. The stock had a trading volume of 1,113,002 shares, compared to its average volume of 1,015,704. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. Parsons Co. has a 1 year low of $54.56 and a 1 year high of $114.68. The business has a 50 day moving average price of $73.33 and a two-hundred day moving average price of $90.83. The firm has a market cap of $6.31 billion, a P/E ratio of 77.70, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78.

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Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. William Blair upgraded shares of Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. Truist Financial dropped their target price 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 decreased their price target on shares of Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group decreased their price target on shares of Parsons from $109.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Finally, TD Cowen downgraded shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 price target on the stock. in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $99.44.

Parsons Company 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.