Illinois Municipal Retirement Fund Sells 8,959 Shares of Parsons Co. (NYSE:PSN)

Illinois Municipal Retirement Fund decreased its stake in Parsons Co. (NYSE:PSN - Free Report) by 25.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,737 shares of the company's stock after selling 8,959 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Parsons were worth $2,374,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Creative Planning grew its holdings in shares of Parsons by 15.0% in the third quarter. Creative Planning now owns 8,490 shares of the company's stock worth $880,000 after purchasing an additional 1,109 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Parsons in the 3rd quarter worth about $1,337,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Parsons by 63.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,707 shares of the company's stock worth $592,000 after acquiring an additional 2,209 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Parsons during the third quarter valued at approximately $72,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Parsons in the third quarter valued at approximately $561,000. Institutional investors own 98.02% of the company's stock.

Parsons Stock Performance

Shares of NYSE PSN traded down $2.86 during midday trading on Monday, reaching $55.36. 2,094,381 shares of the company were exchanged, compared to its average volume of 1,606,132. The stock has a fifty day simple moving average of $82.21 and a 200 day simple moving average of $94.11. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. The stock has a market cap of $5.91 billion, a P/E ratio of 72.84, a PEG ratio of 0.93 and a beta of 0.73. Parsons Co. has a 1 year low of $54.90 and a 1 year high of $114.68.

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Analysts Set New Price Targets

Several research firms recently weighed in on PSN. Truist Financial decreased their price objective on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a report on Friday, November 22nd. Jefferies Financial Group reduced 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 dropped their price objective on shares of Parsons from $109.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Benchmark reissued a "buy" rating and issued a $90.00 price objective on shares of Parsons in a research note on Wednesday, February 26th. Finally, Robert W. Baird dropped their target price on Parsons from $125.00 to $78.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $99.44.

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.