Lisanti Capital Growth LLC Cuts Position in Parsons Co. (NYSE:PSN)

Lisanti Capital Growth LLC cut its holdings in Parsons Co. (NYSE:PSN - Free Report) by 57.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,705 shares of the company's stock after selling 10,205 shares during the quarter. Lisanti Capital Growth LLC's holdings in Parsons were worth $711,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Fisher Asset Management LLC boosted its stake in shares of Parsons by 2.1% in the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company's stock valued at $452,000 after buying an additional 90 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Parsons by 3.2% in the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company's stock valued at $324,000 after purchasing an additional 96 shares during the last quarter. Chartwell Investment Partners LLC grew its holdings in Parsons by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company's stock valued at $1,507,000 after purchasing an additional 117 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Parsons by 0.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 32,126 shares of the company's stock valued at $2,964,000 after purchasing an additional 191 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company's stock valued at $29,000 after purchasing an additional 218 shares during the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

PSN has been the topic of several research reports. Robert W. Baird lowered their target price on Parsons from $125.00 to $78.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Truist Financial lowered their target price on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group lowered their target price on Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, January 24th. TD Cowen lowered Parsons from a "buy" rating to a "hold" rating and set a $105.00 target price on the stock. in a report on Friday, February 21st. Finally, Benchmark restated 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.com, Parsons has a consensus rating of "Moderate Buy" and an average price target of $99.44.

Parsons Trading Up 5.1 %

NYSE PSN traded up $2.92 during trading hours on Friday, hitting $60.34. 2,161,590 shares of the company's stock were exchanged, compared to its average volume of 1,639,761. The business's 50 day moving average is $78.64 and its 200-day moving average is $92.85. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68. The firm has a market capitalization of $6.44 billion, a P/E ratio of 79.39, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29.

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.