5,408 Shares in Parsons Co. (NYSE:PSN) Acquired by Norden Group LLC

Norden Group LLC acquired a new stake in Parsons Co. (NYSE:PSN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,408 shares of the company's stock, valued at approximately $499,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSN. Fisher Asset Management LLC raised its holdings in shares of Parsons by 2.1% during 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 during the last quarter. CIBC Asset Management Inc raised its stake in Parsons by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company's stock valued at $324,000 after acquiring an additional 96 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in Parsons by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company's stock worth $1,507,000 after acquiring an additional 117 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Parsons by 0.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 32,126 shares of the company's stock worth $2,964,000 after purchasing an additional 191 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Parsons by 224.7% during 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 period. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PSN shares. TD Cowen lowered shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 target price for the company. in a research report on Friday, February 21st. KeyCorp dropped their target price on Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group decreased their price target on Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Truist Financial dropped their price objective on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. Finally, Benchmark reaffirmed a "buy" rating and set a $90.00 target price on shares of Parsons in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $99.44.

Remove Ads

Parsons Stock Up 5.1 %

Parsons stock traded up $2.92 during mid-day trading on Friday, hitting $60.34. The company's stock had a trading volume of 2,161,577 shares, compared to its average volume of 1,639,760. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. Parsons Co. has a 52-week low of $54.56 and a 52-week high of $114.68. The firm's 50 day moving average is $79.30 and its 200 day moving average is $93.10. The company has a market cap of $6.44 billion, a PE ratio of 79.39, a price-to-earnings-growth 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.