Advisors Asset Management Inc. Purchases 4,524 Shares of Parsons Co. (NYSE:PSN)

Advisors Asset Management Inc. grew its position in shares of Parsons Co. (NYSE:PSN) by 18.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,671 shares of the company’s stock after buying an additional 4,524 shares during the quarter. Advisors Asset Management Inc.’s holdings in Parsons were worth $2,737,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new position in shares of Parsons during the 4th quarter worth approximately $26,000. GAMMA Investing LLC raised its holdings in shares of Parsons by 224.7% in 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 bought a new stake in shares of Parsons in the 3rd quarter worth approximately $30,000. Principal Securities Inc. bought a new stake in shares of Parsons in the 4th quarter worth approximately $33,000. Finally, R Squared Ltd bought a new stake in shares of Parsons in the 4th quarter worth approximately $38,000. Institutional investors own 98.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PSN shares. Robert W. Baird lowered their price target on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Jefferies Financial Group lowered their price target 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. KeyCorp lowered their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Cowen lowered shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.44.

Parsons Stock Up 0.1 %

PSN opened at $59.10 on Friday. The company has a fifty day moving average price of $72.00 and a 200-day moving average price of $90.35. The firm has a market capitalization of $6.31 billion, a P/E ratio of 77.76, a price-to-earnings-growth 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. Parsons Co. has a one year low of $54.56 and a one 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.