Independent Advisor Alliance Makes New $2.76 Million Investment in Parsons Co. (NYSE:PSN)

Independent Advisor Alliance bought a new position in shares of Parsons Co. (NYSE:PSN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 29,906 shares of the company's stock, valued at approximately $2,759,000.

Other institutional investors have also added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new position in shares of Parsons during the fourth quarter worth about $26,000. GAMMA Investing LLC raised its holdings in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company's stock valued at $29,000 after buying an additional 218 shares in the last quarter. True Wealth Design LLC bought a new stake in Parsons in the 3rd quarter worth approximately $30,000. Principal Securities Inc. purchased a new stake in Parsons in the fourth quarter worth approximately $33,000. Finally, R Squared Ltd bought a new position in shares of Parsons during the 4th quarter valued at $38,000. 98.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PSN shares. Truist Financial cut 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. Robert W. Baird cut their target price on shares of Parsons from $125.00 to $78.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. The Goldman Sachs Group lowered 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. TD Cowen downgraded Parsons from a "buy" rating to a "hold" rating and set a $105.00 price target on the stock. in a report on Friday, February 21st. Finally, Benchmark reiterated a "buy" rating and issued a $90.00 price objective on shares of Parsons in a research report 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's stock. According to data from MarketBeat, Parsons has a consensus rating of "Moderate Buy" and an average target price of $99.44.

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Parsons Stock Up 2.9 %

Shares of NYSE PSN traded up $1.64 during midday trading on Friday, hitting $58.29. The stock had a trading volume of 1,541,866 shares, compared to its average volume of 1,011,328. The business's 50 day moving average is $75.21 and its 200-day moving average is $91.55. Parsons Co. has a 52 week low of $54.56 and a 52 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 company has a market cap of $6.22 billion, a P/E ratio of 76.70, a PEG ratio of 0.93 and a beta of 0.78.

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.