Van ECK Associates Corp Has $46.33 Million Stake in Parsons Co. (NYSE:PSN)

Van ECK Associates Corp grew its position in Parsons Co. (NYSE:PSN - Free Report) by 39.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 502,178 shares of the company's stock after buying an additional 141,282 shares during the period. Van ECK Associates Corp owned 0.47% of Parsons worth $46,326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp lifted its stake in Parsons by 60.6% in the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company's stock valued at $169,429,000 after buying an additional 616,707 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Parsons by 61.7% in the 3rd 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 period. Principal Financial Group Inc. raised its holdings in shares of 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 buying an additional 183,117 shares during the last quarter. FMR LLC lifted its stake in shares of Parsons by 391.4% in the third quarter. FMR LLC now owns 195,850 shares of the company's stock valued at $20,306,000 after purchasing an additional 155,991 shares during the period. Finally, Synergy Asset Management LLC purchased a new stake in Parsons in the 4th quarter valued at approximately $12,550,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PSN. Jefferies Financial Group dropped their price target on Parsons from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, January 24th. TD Cowen decreased their price target on Parsons from $117.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Robert W. Baird boosted their price target on shares of Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. William Blair lowered shares of Parsons from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 23rd. Finally, Raymond James cut shares of Parsons from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Parsons has a consensus rating of "Moderate Buy" and a consensus target price of $107.33.

Parsons Trading Down 0.0 %

Shares of Parsons stock traded down $0.04 during midday trading on Monday, reaching $73.37. 1,401,858 shares of the company's stock traded hands, compared to its average volume of 1,387,940. The company has a market cap of $7.79 billion, a PE ratio of 111.16, a price-to-earnings-growth ratio of 1.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. Parsons Co. has a 12 month low of $72.12 and a 12 month high of $114.68. The stock has a 50 day moving average of $88.88 and a 200-day moving average of $96.08.

Parsons Company 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.