Canton Hathaway LLC grew its position in shares of Parsons Corp (NYSE:PSN) by 674.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,740 shares of the company’s stock after acquiring an additional 5,870 shares during the quarter. Canton Hathaway LLC’s holdings in Parsons were worth $222,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Strs Ohio acquired a new stake in Parsons in the second quarter worth about $184,000. JPMorgan Chase & Co. acquired a new stake in Parsons in the second quarter worth about $5,264,000. Wells Fargo & Company MN acquired a new stake in Parsons in the second quarter worth about $35,862,000. Creative Planning acquired a new stake in Parsons in the second quarter worth about $756,000. Finally, Benjamin Edwards Inc. acquired a new stake in Parsons in the second quarter worth about $129,000. 99.43% of the stock is owned by institutional investors and hedge funds.
Parsons stock traded down $0.14 during midday trading on Friday, hitting $32.81. The company’s stock had a trading volume of 246,256 shares, compared to its average volume of 500,083. The business’s 50-day simple moving average is $34.27. Parsons Corp has a 12 month low of $29.03 and a 12 month high of $38.82.
Several research firms recently weighed in on PSN. SunTrust Banks upped their price objective on shares of Parsons from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Zacks Investment Research raised shares of Parsons from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Wednesday, September 11th. Cowen reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Parsons in a report on Monday, August 26th. Wells Fargo & Co downgraded shares of Parsons from an “outperform” rating to a “market perform” rating and set a $36.00 price objective for the company. in a report on Wednesday, June 26th. They noted that the move was a valuation call. Finally, Morgan Stanley set a $36.00 price objective on shares of Parsons and gave the stock a “hold” rating in a report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $38.71.
Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates in two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity software and engineering services, hardware prototyping, and other technical services to the U.S.
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