Charles Schwab Investment Management Inc. Buys 5,604 Shares of Parsons Co. (NYSE:PSN)

Charles Schwab Investment Management Inc. lifted its position in Parsons Co. (NYSE:PSN - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 425,222 shares of the company's stock after buying an additional 5,604 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.40% of Parsons worth $39,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the company. Norden Group LLC purchased a new position in shares of Parsons in the fourth quarter worth approximately $499,000. Cape Investment Advisory Inc. purchased a new position in shares of Parsons during the 4th quarter worth $147,000. Versor Investments LP bought a new stake in shares of Parsons during the 4th quarter valued at $821,000. Oppenheimer Asset Management Inc. increased its stake in shares of Parsons by 0.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 32,126 shares of the company's stock worth $2,964,000 after purchasing an additional 191 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Parsons by 23.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 87,448 shares of the company's stock worth $8,067,000 after buying an additional 16,748 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Price Performance

NYSE PSN traded up $0.80 during trading on Wednesday, hitting $60.88. 706,176 shares of the stock traded hands, compared to its average volume of 1,584,018. The company has a quick ratio of 1.55, a current ratio of 1.29 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 firm has a 50-day simple moving average of $73.95 and a 200-day simple moving average of $91.04. The company has a market capitalization of $6.50 billion, a P/E ratio of 80.03, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78.

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Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Robert W. Baird cut their price objective on Parsons from $125.00 to $78.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Truist Financial decreased 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. William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 18th. KeyCorp decreased 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. Finally, Benchmark reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Parsons in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Parsons has a consensus rating of "Moderate Buy" and a consensus target price 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.