Raymond James Financial Inc. Purchases Shares of 687,446 Parsons Co. (NYSE:PSN)

Raymond James Financial Inc. purchased a new stake in Parsons Co. (NYSE:PSN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 687,446 shares of the company’s stock, valued at approximately $63,417,000. Raymond James Financial Inc. owned about 0.65% of Parsons as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PSN. ORG Wealth Partners LLC acquired a new stake in shares of Parsons in the fourth quarter valued at approximately $26,000. True Wealth Design LLC acquired a new stake in shares of Parsons in the third quarter valued at approximately $30,000. GAMMA Investing LLC boosted its holdings in shares of Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares during the period. Principal Securities Inc. acquired a new stake in shares of Parsons in the fourth quarter valued at approximately $33,000. Finally, R Squared Ltd acquired a new stake in shares of Parsons in the fourth quarter valued at approximately $38,000. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSN has been the subject of several research analyst reports. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 18th. Jefferies Financial Group decreased 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 decreased their price target on Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Truist Financial decreased their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.44.

Parsons Trading Down 2.7 %

NYSE:PSN opened at $58.57 on Tuesday. The stock has a fifty day moving average price of $77.96 and a two-hundred day moving average price of $92.58. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 77.06, a PEG ratio of 0.93 and a beta of 0.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. Parsons Co. has a 1 year low of $54.56 and a 1 year high of $114.68.

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.