BayBridge Capital Group LLC Sells 612 Shares of Parsons Co. (NYSE:PSN)

BayBridge Capital Group LLC cut its stake in Parsons Co. (NYSE:PSN) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,982 shares of the company’s stock after selling 612 shares during the period. BayBridge Capital Group LLC’s holdings in Parsons were worth $460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of Parsons by 60.6% during the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after buying an additional 616,707 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Parsons during the 3rd quarter worth about $62,514,000. Allspring Global Investments Holdings LLC raised its position in shares of Parsons by 61.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock worth $116,471,000 after acquiring an additional 428,662 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Parsons by 18.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after purchasing an additional 183,117 shares during the period. Finally, FMR LLC boosted its position in shares of Parsons by 391.4% during the 3rd quarter. FMR LLC now owns 195,850 shares of the company’s stock valued at $20,306,000 after purchasing an additional 155,991 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of Parsons stock opened at $76.91 on Friday. Parsons Co. has a 52 week low of $65.45 and a 52 week high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $91.44 and a 200-day moving average price of $96.00. The company has a market cap of $8.17 billion, a PE ratio of 116.54, a price-to-earnings-growth ratio of 1.17 and a beta of 0.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PSN shares. Truist Financial lowered their target price on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Robert W. Baird boosted their target price on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. William Blair cut shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. Jefferies Financial Group dropped their price objective on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Two 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, Parsons presently has an average rating of “Moderate Buy” and an average price target of $107.33.

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.