Navellier & Associates Inc. Grows Stock Holdings in Parsons Co. (NYSE:PSN)

Navellier & Associates Inc. raised its holdings in shares of Parsons Co. (NYSE:PSN) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,538 shares of the company’s stock after purchasing an additional 9,467 shares during the quarter. Parsons accounts for about 1.0% of Navellier & Associates Inc.’s portfolio, making the stock its 21st largest position. Navellier & Associates Inc.’s holdings in Parsons were worth $8,444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PSN. State of New Jersey Common Pension Fund D bought a new position in shares of Parsons in the 3rd quarter valued at about $2,172,000. Oppenheimer & Co. Inc. raised its position in Parsons by 37.7% during the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock valued at $2,490,000 after purchasing an additional 6,577 shares during the period. Aigen Investment Management LP bought a new stake in shares of Parsons in the 3rd quarter valued at approximately $1,004,000. Geode Capital Management LLC boosted its holdings in shares of Parsons by 14.0% in the 3rd quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock worth $80,146,000 after purchasing an additional 95,040 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of Parsons during the 4th quarter valued at approximately $1,449,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PSN. The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and raised their price target for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Jefferies Financial Group dropped their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Robert W. Baird reduced their price objective on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday. Raymond James downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, TD Cowen cut Parsons from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research note on Friday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Parsons presently has an average rating of “Moderate Buy” and an average target price of $102.11.

Parsons Stock Performance

Parsons stock opened at $59.45 on Friday. Parsons Co. has a fifty-two week low of $57.86 and a fifty-two week high of $114.68. The company has a market capitalization of $6.35 billion, a PE ratio of 78.22, a P/E/G ratio of 0.93 and a beta of 0.73. The company has a 50 day moving average price of $86.65 and a 200-day moving average price of $95.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29.

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.