Amundi Has $4.53 Million Stake in Parsons Co. (NYSE:PSN)

Amundi raised its stake in Parsons Co. (NYSE:PSN - Free Report) by 97.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,355 shares of the company's stock after buying an additional 24,380 shares during the period. Amundi's holdings in Parsons were worth $4,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Parsons during the 4th quarter worth $63,417,000. State Street Corp increased its position in Parsons by 60.6% during the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company's stock valued at $169,429,000 after purchasing an additional 616,707 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Parsons by 18.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock valued at $123,685,000 after purchasing an additional 183,117 shares in the last quarter. FMR LLC lifted its position in shares of Parsons by 391.4% in the 3rd quarter. FMR LLC now owns 195,850 shares of the company's stock worth $20,306,000 after purchasing an additional 155,991 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Parsons by 39.1% during the fourth quarter. Van ECK Associates Corp now owns 502,178 shares of the company's stock valued at $46,326,000 after purchasing an additional 141,282 shares in the last quarter. Institutional investors own 98.02% of the company's stock.

Parsons Stock Up 1.2 %

NYSE:PSN traded up $0.74 on Wednesday, reaching $60.82. The stock had a trading volume of 968,389 shares, compared to its average volume of 1,585,021. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68. The company has a 50-day moving average of $73.95 and a 200 day moving average of $91.04. The stock has a market cap of $6.49 billion, a P/E ratio of 80.02, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78.

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Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. KeyCorp cut their price target on Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. William Blair raised Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. Benchmark reaffirmed a "buy" rating and set a $90.00 target price on shares of Parsons in a report on Wednesday, February 26th. Raymond James cut Parsons from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Finally, Jefferies Financial Group dropped their price objective on shares of Parsons from $110.00 to $100.00 and set a "buy" rating for the company in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Parsons has an average rating of "Moderate Buy" and an average target price of $99.44.

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.