Allspring Global Investments Holdings LLC Sells 348,883 Shares of Parsons Co. (NYSE:PSN)

Allspring Global Investments Holdings LLC lowered its holdings in Parsons Co. (NYSE:PSN - Free Report) by 31.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 774,483 shares of the company's stock after selling 348,883 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.73% of Parsons worth $70,133,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Fisher Asset Management LLC raised its holdings in shares of Parsons by 2.1% during the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company's stock worth $452,000 after acquiring an additional 90 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Parsons by 3.2% in 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. Chartwell Investment Partners LLC lifted its stake in shares of Parsons by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company's stock valued at $1,507,000 after buying an additional 117 shares during the period. GAMMA Investing LLC lifted its stake in shares of Parsons by 224.7% in the fourth 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. Finally, Assetmark Inc. lifted its stake in shares of Parsons by 10.7% in the third quarter. Assetmark Inc. now owns 2,750 shares of the company's stock valued at $285,000 after buying an additional 265 shares during the period. Hedge funds and other institutional investors own 98.02% of the company's stock.

Parsons Stock Down 0.0 %

Shares of Parsons stock traded down $0.04 during trading hours on Friday, reaching $73.37. 1,401,858 shares of the company's stock were exchanged, compared to its average volume of 1,387,940. The company has a 50 day moving average of $88.88 and a two-hundred day moving average of $96.04. Parsons Co. has a fifty-two week low of $72.12 and a fifty-two week 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 stock has a market cap of $7.79 billion, a P/E ratio of 111.16, a P/E/G ratio of 1.17 and a beta of 0.73.

Wall Street Analysts Forecast Growth

PSN has been the topic of a number of recent research reports. Raymond James downgraded Parsons from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Truist Financial reduced their price objective on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. Robert W. Baird upped their price objective on Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. TD Cowen dropped their target price on shares of Parsons from $117.00 to $105.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Finally, KeyCorp lowered their price objective 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $107.33.

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.