Parsons Co. (NYSE:PSN) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. decreased its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 26.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,492 shares of the company's stock after selling 19,466 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.05% of Parsons worth $4,935,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PSN. Earnest Partners LLC lifted its stake in Parsons by 2.4% in the second quarter. Earnest Partners LLC now owns 2,168,598 shares of the company's stock worth $177,413,000 after acquiring an additional 49,891 shares during the period. State Street Corp raised its holdings in shares of Parsons by 60.6% in 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 in the last quarter. Principal Financial Group Inc. lifted its position 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 worth $123,685,000 after purchasing an additional 183,117 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Parsons by 61.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company's stock valued at $116,471,000 after purchasing an additional 428,662 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Parsons by 14.0% during the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company's stock valued at $80,146,000 after buying an additional 95,040 shares during the period. 98.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PSN shares. KeyCorp lowered their target price on Parsons from $122.00 to $102.00 and set an "overweight" rating for the company in a report on Wednesday. TD Cowen dropped their price objective on Parsons from $117.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday. The Goldman Sachs Group upgraded shares of Parsons from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Truist Financial decreased their price target on shares of Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Finally, Raymond James downgraded shares of Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $108.25.

Parsons Stock Up 1.1 %

Shares of PSN traded up $1.03 during mid-day trading on Friday, hitting $92.89. 831,184 shares of the company traded hands, compared to its average volume of 941,414. The business has a 50 day moving average of $97.76 and a 200 day moving average of $95.19. The company has a market capitalization of $9.86 billion, a PE ratio of 140.74, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons Co. has a 1-year low of $63.12 and a 1-year high of $114.68.

Parsons (NYSE:PSN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. Equities research analysts anticipate that Parsons Co. will post 3.02 EPS for the current year.

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.