Peregrine Asset Advisers Inc. Decreases Stock Holdings in Parsons Co. (NYSE:PSN)

Peregrine Asset Advisers Inc. lowered its holdings in Parsons Co. (NYSE:PSN) by 32.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,134 shares of the company’s stock after selling 27,282 shares during the period. Parsons comprises 1.9% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 13th largest position. Peregrine Asset Advisers Inc.’s holdings in Parsons were worth $5,178,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D purchased a new position in shares of Parsons in the 3rd quarter worth about $2,172,000. Oppenheimer & Co. Inc. raised its position in Parsons by 37.7% in the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock worth $2,490,000 after acquiring an additional 6,577 shares during the period. Aigen Investment Management LP purchased a new position in Parsons in the third quarter valued at about $1,004,000. Geode Capital Management LLC grew its position in shares of Parsons by 14.0% during the 3rd quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after acquiring an additional 95,040 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Parsons in the 4th quarter worth approximately $1,449,000. Institutional investors own 98.02% of the company’s stock.

Parsons Trading Down 4.0 %

Shares of PSN opened at $59.45 on Friday. 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 1-year low of $57.86 and a 1-year high of $114.68. The company has a market capitalization of $6.35 billion, a P/E ratio of 78.22, a P/E/G ratio of 0.93 and a beta of 0.73. The firm’s 50 day simple moving average is $86.65 and its 200 day simple moving average is $95.41.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Robert W. Baird decreased their price objective on Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday. Jefferies Financial Group dropped their price objective on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, January 24th. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $103.00 to $111.00 in a research note on Thursday, December 12th. Finally, William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.11.

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.