Robeco Institutional Asset Management B.V. Grows Stock Position in Parsons Co. (NYSE:PSN)

Robeco Institutional Asset Management B.V. lifted its stake in Parsons Co. (NYSE:PSN - Free Report) by 94.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,575 shares of the company's stock after purchasing an additional 7,557 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Parsons were worth $1,437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSN. State Street Corp increased its stake in shares of Parsons by 60.6% during the third quarter. State Street Corp now owns 1,634,155 shares of the company's stock worth $169,429,000 after buying an additional 616,707 shares during the period. Principal Financial Group Inc. boosted its holdings in Parsons by 18.1% in the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock valued at $123,685,000 after purchasing an additional 183,117 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Parsons by 61.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company's stock valued at $116,471,000 after purchasing an additional 428,662 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Parsons by 14.0% in the 3rd quarter. Geode Capital Management LLC now owns 772,808 shares of the company's stock valued at $80,146,000 after buying an additional 95,040 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of Parsons by 12.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 680,311 shares of the company's stock valued at $62,759,000 after buying an additional 77,358 shares in the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Price Performance

NYSE PSN traded up $0.09 during trading hours on Wednesday, reaching $78.23. The company's stock had a trading volume of 306,895 shares, compared to its average volume of 1,340,623. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market cap of $8.31 billion, a PE ratio of 118.53, a PEG ratio of 1.19 and a beta of 0.73. The company's 50-day moving average is $92.18 and its two-hundred day moving average is $96.26. Parsons Co. has a fifty-two week low of $64.90 and a fifty-two week high of $114.68.

Analyst Upgrades and Downgrades

PSN has been the topic of several research reports. KeyCorp dropped their price objective on Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Robert W. Baird raised their target price on shares of Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. TD Cowen decreased their price target on shares of Parsons from $117.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. William Blair cut shares of Parsons from an "outperform" rating to a "market perform" rating in a report on Thursday, January 23rd. Finally, Raymond James cut Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Two investment 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $107.33.

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.