Parsons Co. (NYSE:PSN) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in Parsons Co. (NYSE:PSN) by 42.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 280,506 shares of the company’s stock after acquiring an additional 82,970 shares during the period. New York State Common Retirement Fund’s holdings in Parsons were worth $25,877,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Truist Financial Corp raised its holdings in Parsons by 12.5% in the 4th quarter. Truist Financial Corp now owns 45,253 shares of the company’s stock valued at $4,175,000 after acquiring an additional 5,032 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Parsons by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock valued at $303,000 after acquiring an additional 163 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Parsons by 6.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 22,232 shares of the company’s stock valued at $2,051,000 after acquiring an additional 1,279 shares during the last quarter. Csenge Advisory Group increased its holdings in shares of Parsons by 42.4% during the 4th quarter. Csenge Advisory Group now owns 4,902 shares of the company’s stock worth $452,000 after buying an additional 1,459 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Parsons during the 4th quarter worth $33,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSN. Jefferies Financial Group dropped their price objective on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Robert W. Baird dropped their price objective on Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday. KeyCorp dropped their price objective on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, TD Cowen downgraded Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a report on Friday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.11.

Parsons Stock Down 4.0 %

Shares of NYSE PSN opened at $59.45 on Friday. Parsons Co. has a 12-month low of $57.86 and a 12-month high of $114.68. The company has a market cap of $6.31 billion, a P/E ratio of 78.22, a P/E/G ratio of 0.98 and a beta of 0.73. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $86.65 and a 200 day moving average price of $95.41.

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.