Otter Creek Advisors LLC Has $4.91 Million Stock Position in Parsons Co. (NYSE:PSN)

Otter Creek Advisors LLC cut its stake in Parsons Co. (NYSE:PSN) by 34.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,236 shares of the company’s stock after selling 27,612 shares during the period. Parsons comprises approximately 3.4% of Otter Creek Advisors LLC’s holdings, making the stock its 14th largest holding. Otter Creek Advisors LLC owned approximately 0.05% of Parsons worth $4,911,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PSN. State Street Corp lifted its holdings 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 valued at $169,429,000 after acquiring an additional 616,707 shares during the period. Principal Financial Group Inc. lifted its holdings in Parsons by 18.1% during the 3rd 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 during the last quarter. Geode Capital Management LLC boosted its position in Parsons by 14.0% in the third 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. Wedge Capital Management L L P NC grew its stake in Parsons by 12.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 680,311 shares of the company’s stock worth $62,759,000 after buying an additional 77,358 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Parsons by 11.8% in the third quarter. Franklin Resources Inc. now owns 601,071 shares of the company’s stock valued at $64,813,000 after acquiring an additional 63,657 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Parsons Price Performance

Shares of PSN opened at $59.10 on Thursday. The stock has a market cap of $6.31 billion, a P/E ratio of 77.76, a price-to-earnings-growth ratio of 0.93 and a beta of 0.73. Parsons Co. has a 1 year low of $57.22 and a 1 year high of $114.68. The stock’s 50-day moving average price is $83.69 and its two-hundred day moving average price is $94.58. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PSN shares. 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 report on Friday, January 24th. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Truist Financial reduced their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. TD Cowen cut Parsons from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a research note on Friday, February 21st. Finally, Robert W. Baird cut their price target on Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.44.

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.