Strategic Equity Management Purchases Shares of 3,534 Parsons Co. (NYSE:PSN)

Strategic Equity Management purchased a new stake in Parsons Co. (NYSE:PSN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,534 shares of the company’s stock, valued at approximately $326,000.

Several other large investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Parsons by 60.6% in the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after acquiring an additional 616,707 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Parsons by 18.1% during the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock worth $123,685,000 after buying an additional 183,117 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Parsons by 14.0% during the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock worth $80,146,000 after buying an additional 95,040 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Parsons during the fourth quarter worth approximately $63,417,000. Finally, Wedge Capital Management L L P NC boosted its holdings in Parsons by 12.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 680,311 shares of the company’s stock worth $62,759,000 after buying an additional 77,358 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Up 5.1 %

PSN stock opened at $60.34 on Friday. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 79.39, a PEG ratio of 0.93 and a beta of 0.78. The company has a 50 day moving average of $78.64 and a two-hundred day moving average of $92.85.

Analyst Ratings Changes

A number of brokerages recently weighed in on PSN. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Jefferies Financial Group reduced their target price on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. Robert W. Baird decreased their price objective on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Benchmark reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Parsons in a research note on Wednesday, February 26th. Finally, KeyCorp decreased their price objective on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. 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, Parsons currently has an average rating of “Moderate Buy” and a consensus target price of $99.44.

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.