Edgestream Partners L.P. Makes New Investment in Parsons Co. (NYSE:PSN)

Edgestream Partners L.P. bought a new stake in Parsons Co. (NYSE:PSN) in the fourth quarter, Holdings Channel reports. The institutional investor bought 12,726 shares of the company’s stock, valued at approximately $1,174,000.

Several other institutional investors and hedge funds have also modified their holdings of PSN. ORG Wealth Partners LLC acquired a new stake in Parsons during the 4th quarter valued at $26,000. GAMMA Investing LLC grew its holdings in shares of Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after purchasing an additional 218 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Parsons during the third quarter worth $30,000. Principal Securities Inc. acquired a new stake in shares of Parsons in the fourth quarter valued at $33,000. Finally, R Squared Ltd bought a new position in shares of Parsons in the fourth quarter valued at about $38,000. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Trading Down 1.5 %

NYSE PSN opened at $57.66 on Wednesday. Parsons Co. has a 12 month low of $54.56 and a 12 month high of $114.68. The stock has a 50-day simple moving average of $77.27 and a 200 day simple moving average of $92.32. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.16 billion, a PE ratio of 75.87, a P/E/G ratio of 0.93 and a beta of 0.78.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PSN shares. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Truist Financial dropped their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Benchmark reaffirmed a “buy” rating and set a $90.00 price objective on shares of Parsons in a report on Wednesday, February 26th. Jefferies Financial Group dropped their target price on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, TD Cowen lowered Parsons from a “buy” rating to a “hold” rating and set a $105.00 price target on the stock. in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.44.

Parsons Company 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.