Channing Capital Management LLC Acquires 68,599 Shares of Parsons Co. (NYSE:PSN)

Channing Capital Management LLC grew its position in Parsons Co. (NYSE:PSN - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 743,047 shares of the company's stock after buying an additional 68,599 shares during the quarter. Parsons makes up approximately 1.8% of Channing Capital Management LLC's portfolio, making the stock its 27th largest position. Channing Capital Management LLC owned approximately 0.70% of Parsons worth $68,546,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its holdings in shares of Parsons by 2.1% in the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company's stock worth $452,000 after buying an additional 90 shares during the period. CIBC Asset Management Inc boosted its holdings 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 worth $324,000 after buying an additional 96 shares during the period. Chartwell Investment Partners LLC boosted its holdings 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 worth $1,507,000 after buying an additional 117 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Parsons by 0.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 32,126 shares of the company's stock worth $2,964,000 after buying an additional 191 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company's stock worth $29,000 after buying an additional 218 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

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Parsons Stock Performance

PSN traded up $1.64 during trading on Friday, reaching $58.29. 1,541,866 shares of the company's stock were exchanged, compared to its average volume of 1,008,786. Parsons Co. has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $75.89 and a 200 day moving average price of $91.83. The company has a market capitalization of $6.22 billion, a P/E ratio of 76.70, a PEG ratio of 0.93 and a beta of 0.78.

Analysts Set New Price Targets

PSN has been the subject of several research reports. Jefferies Financial Group decreased their price target 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. The Goldman Sachs Group decreased their price target on shares of Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Benchmark reaffirmed a "buy" rating and set a $90.00 price objective on shares of Parsons in a research report on Wednesday, February 26th. Truist Financial cut their price objective on shares of Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Finally, Raymond James lowered shares of Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Parsons currently has a consensus rating of "Moderate Buy" and a consensus 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.