Oppenheimer & Co. Inc. Sells 7,524 Shares of Parsons Co. (NYSE:PSN)

Oppenheimer & Co. Inc. trimmed its position in shares of Parsons Co. (NYSE:PSN) by 31.3% during the fourth quarter, HoldingsChannel reports. The firm owned 16,492 shares of the company’s stock after selling 7,524 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Parsons were worth $1,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSN. Wealth Enhancement Advisory Services LLC lifted its position in Parsons by 63.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,707 shares of the company’s stock valued at $592,000 after acquiring an additional 2,209 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Parsons in the 3rd quarter valued at $72,000. State of Alaska Department of Revenue bought a new stake in Parsons in the 3rd quarter valued at $561,000. New York State Teachers Retirement System bought a new stake in Parsons in the 3rd quarter valued at $1,110,000. Finally, Van ECK Associates Corp lifted its position in Parsons by 26.3% in the 3rd quarter. Van ECK Associates Corp now owns 360,896 shares of the company’s stock valued at $37,670,000 after acquiring an additional 75,096 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

PSN has been the topic of several research reports. Benchmark reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Parsons in a research report on Wednesday, February 26th. KeyCorp cut their price objective on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Raymond James lowered shares of Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Jefferies Financial Group lowered their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Robert W. Baird lowered their price target on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.44.

Parsons Stock Down 4.9 %

Parsons stock opened at $55.36 on Tuesday. The firm has a market capitalization of $5.91 billion, a PE ratio of 72.84, a P/E/G ratio of 0.93 and a beta of 0.73. The company’s 50-day moving average is $81.44 and its 200-day moving average is $93.84. Parsons Co. has a fifty-two week low of $54.90 and a fifty-two week high of $114.68. 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 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.