Alliance Wealth Advisors LLC UT Acquires New Holdings in Parsons Co. (NYSE:PSN)

Alliance Wealth Advisors LLC UT bought a new position in shares of Parsons Co. (NYSE:PSN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,103 shares of the company's stock, valued at approximately $471,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSN. Precision Wealth Strategies LLC bought a new position in shares of Parsons during the 4th quarter worth approximately $578,000. Synergy Asset Management LLC bought a new position in Parsons during the fourth quarter worth $12,550,000. BOCHK Asset Management Ltd acquired a new position in shares of Parsons in the fourth quarter valued at $8,799,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Parsons by 94.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 15,575 shares of the company's stock worth $1,437,000 after buying an additional 7,557 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of Parsons during the 4th quarter worth about $38,000. 98.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. The Goldman Sachs Group raised shares of Parsons from a "neutral" rating to a "buy" rating and increased their price target for the company from $103.00 to $111.00 in a report on Thursday, December 12th. Robert W. Baird upped their price target on shares of Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Truist Financial cut their price objective on shares of Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a report on Friday, November 22nd. William Blair lowered shares of Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 23rd. Finally, KeyCorp dropped their price target on shares of Parsons from $122.00 to $102.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Parsons has a consensus rating of "Moderate Buy" and a consensus target price of $107.33.

Parsons Price Performance

PSN traded down $0.71 during trading on Wednesday, hitting $77.43. 1,145,263 shares of the stock traded hands, compared to its average volume of 1,377,842. The business has a 50 day moving average price of $92.18 and a 200 day moving average price of $96.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. Parsons Co. has a twelve month low of $64.90 and a twelve month high of $114.68. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 117.32, a PEG ratio of 1.19 and a beta of 0.73.

About Parsons

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.