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

Advisors Asset Management Inc. grew its holdings in shares of Parsons Co. (NYSE:PSN) by 18.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,671 shares of the company’s stock after acquiring an additional 4,524 shares during the period. Advisors Asset Management Inc.’s holdings in Parsons were worth $2,737,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new stake in Parsons during the 4th quarter worth about $26,000. True Wealth Design LLC acquired a new stake in Parsons during the 3rd quarter worth about $30,000. GAMMA Investing LLC grew its holdings in Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after acquiring an additional 218 shares during the period. Principal Securities Inc. acquired a new stake in Parsons during the 4th quarter worth about $33,000. Finally, R Squared Ltd acquired a new stake in Parsons during the 4th quarter worth about $38,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Price Performance

PSN stock opened at $59.10 on Friday. The company 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 quick ratio of 1.55 and a current ratio of 1.29. Parsons Co. has a 52-week low of $54.56 and a 52-week high of $114.68. The business has a 50-day simple moving average of $72.00 and a two-hundred day simple moving average of $90.35.

Analyst Ratings Changes

A number of analysts have weighed in on PSN shares. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. KeyCorp reduced their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird reduced their target price on Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. Finally, TD Cowen downgraded Parsons from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Parsons has an average 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.