Parsons Co. (NYSE:PSN) Stock Holdings Trimmed by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its stake in Parsons Co. (NYSE:PSN - Free Report) by 63.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,649 shares of the company's stock after selling 6,287 shares during the period. Janney Montgomery Scott LLC's holdings in Parsons were worth $337,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Parsons by 60.6% during the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company's stock worth $169,429,000 after purchasing an additional 616,707 shares in the last quarter. Principal Financial Group Inc. boosted its position in Parsons by 18.1% during the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock worth $123,685,000 after acquiring an additional 183,117 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Parsons by 61.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company's stock worth $116,471,000 after acquiring an additional 428,662 shares during the last quarter. Geode Capital Management LLC boosted its position in Parsons by 14.0% during the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company's stock worth $80,146,000 after acquiring an additional 95,040 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in Parsons by 12.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 680,311 shares of the company's stock worth $62,759,000 after acquiring an additional 77,358 shares during the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. TD Cowen decreased their target price on shares of Parsons from $117.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group upgraded shares of Parsons from a "neutral" rating to a "buy" rating and raised their target price for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Raymond James lowered shares of Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. KeyCorp decreased their target price on shares of Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group decreased their target price on shares of Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Parsons presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.33.

Parsons Stock Down 0.0 %

Shares of PSN traded down $0.04 during midday trading on Friday, reaching $73.37. 1,401,858 shares of the company were exchanged, compared to its average volume of 1,322,875. The stock has a 50-day moving average price of $89.37 and a 200-day moving average price of $95.94. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 111.16, a P/E/G ratio of 1.17 and a beta of 0.73. Parsons Co. has a 1-year low of $72.12 and a 1-year high of $114.68. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.

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.