Strategic Equity Management Invests $326,000 in Parsons Co. (NYSE:PSN)

Strategic Equity Management acquired a new position in shares of Parsons Co. (NYSE:PSN) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,534 shares of the company’s stock, valued at approximately $326,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PSN. ORG Wealth Partners LLC acquired a new stake in shares of Parsons during the 4th quarter worth $26,000. GAMMA Investing LLC boosted its position in Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after purchasing an additional 218 shares during the period. True Wealth Design LLC purchased a new stake in Parsons during the 3rd quarter worth $30,000. Principal Securities Inc. purchased a new stake in Parsons during the 4th quarter worth $33,000. Finally, R Squared Ltd purchased a new stake in Parsons during the 4th quarter worth $38,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PSN. TD Cowen cut shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research report on Friday, February 21st. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. KeyCorp decreased their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group decreased their price objective on shares of Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.44.

Parsons Stock Performance

Shares of Parsons stock opened at $60.34 on Friday. The firm has a market cap of $6.44 billion, a PE ratio of 79.39, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The firm’s 50-day simple moving average is $78.64 and its 200-day simple moving average is $92.85. 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.