Parsons Co. (NYSE:PSN) Shares Acquired by Optimum Investment Advisors

Optimum Investment Advisors raised its position in Parsons Co. (NYSE:PSN) by 50.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,100 shares of the company’s stock after buying an additional 700 shares during the period. Optimum Investment Advisors’ holdings in Parsons were worth $194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Parsons in the fourth quarter worth about $63,417,000. State Street Corp boosted its stake in shares of Parsons by 60.6% during the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after buying an additional 616,707 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Parsons by 18.1% during the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock worth $123,685,000 after buying an additional 183,117 shares in the last quarter. FMR LLC increased its stake in shares of Parsons by 391.4% in the third quarter. FMR LLC now owns 195,850 shares of the company’s stock worth $20,306,000 after buying an additional 155,991 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Parsons by 39.1% in the fourth quarter. Van ECK Associates Corp now owns 502,178 shares of the company’s stock valued at $46,326,000 after acquiring an additional 141,282 shares in the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Price Performance

Shares of PSN opened at $59.10 on Friday. Parsons Co. has a 12 month low of $54.56 and a 12 month high of $114.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The stock has a fifty day moving average price of $72.00 and a 200 day moving average price of $90.33. The company has a market cap of $6.31 billion, a P/E ratio of 77.76, a PEG ratio of 0.93 and a beta of 0.78.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PSN. 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 report on Friday, February 21st. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. KeyCorp cut their price objective on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group reduced their target price on Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Parsons has a consensus rating of “Moderate Buy” and an average price target of $99.44.

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.