Channing Capital Management LLC Has $68.55 Million Stock Holdings in Parsons Co. (NYSE:PSN)

Channing Capital Management LLC grew its position in Parsons Co. (NYSE:PSN) by 10.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 743,047 shares of the company’s stock after purchasing an additional 68,599 shares during the period. Parsons comprises approximately 1.8% of Channing Capital Management LLC’s holdings, making the stock its 27th largest holding. Channing Capital Management LLC’s holdings in Parsons were worth $68,546,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Amalgamated Bank grew its position in Parsons by 193.0% during the 3rd quarter. Amalgamated Bank now owns 22,251 shares of the company’s stock worth $2,307,000 after purchasing an additional 14,658 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Parsons during the third quarter valued at $45,000. Assetmark Inc. raised its position in Parsons by 10.7% during the third quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock valued at $285,000 after buying an additional 265 shares during the period. Sigma Planning Corp purchased a new stake in Parsons in the 3rd quarter worth about $232,000. Finally, Axxcess Wealth Management LLC boosted its position in Parsons by 15.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 10,205 shares of the company’s stock worth $1,058,000 after acquiring an additional 1,350 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Trading Down 2.7 %

Parsons stock opened at $58.57 on Tuesday. Parsons Co. has a one year low of $54.56 and a one year high of $114.68. The company’s fifty day moving average price is $77.96 and its two-hundred day moving average price is $92.58. The company 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 current ratio of 1.29 and a quick ratio of 1.55.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PSN. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Jefferies Financial Group cut their target price on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Benchmark restated a “buy” rating and set a $90.00 price target on shares of Parsons in a report on Wednesday, February 26th. Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, The Goldman Sachs Group lowered their target price on Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.44.

Parsons 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.