32,959 Shares in Parsons Co. (NYSE:PSN) Purchased by Facet Wealth Inc.

Facet Wealth Inc. bought a new position in shares of Parsons Co. (NYSE:PSN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 32,959 shares of the company’s stock, valued at approximately $3,040,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSN. ORG Wealth Partners LLC purchased a new stake in shares of Parsons in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC increased its position in shares of Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Parsons in the third quarter valued at approximately $30,000. Principal Securities Inc. purchased a new stake in shares of Parsons in the fourth quarter valued at approximately $33,000. Finally, R Squared Ltd purchased a new stake in shares of Parsons in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analysts Set New Price Targets

PSN has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their price target on Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. 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. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, KeyCorp lowered their price target on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.44.

Parsons Stock Performance

Shares of Parsons stock opened at $58.29 on Friday. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68. The business’s fifty day simple moving average is $75.21 and its 200-day simple moving average is $91.55. The firm has a market cap of $6.22 billion, a PE ratio of 76.70, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

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.