William Blair Investment Management LLC Sells 208,378 Shares of Parsons Co. (NYSE:PSN)

William Blair Investment Management LLC reduced its holdings in Parsons Co. (NYSE:PSN) by 23.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 668,140 shares of the company’s stock after selling 208,378 shares during the quarter. William Blair Investment Management LLC’s holdings in Parsons were worth $61,636,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. State Street Corp increased its holdings in shares of Parsons by 60.6% in the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after acquiring an additional 616,707 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Parsons by 18.1% in the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock worth $123,685,000 after acquiring an additional 183,117 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Parsons by 14.0% in the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock worth $80,146,000 after acquiring an additional 95,040 shares in the last quarter. Channing Capital Management LLC increased its holdings in shares of Parsons by 10.2% in the fourth quarter. Channing Capital Management LLC now owns 743,047 shares of the company’s stock worth $68,546,000 after acquiring an additional 68,599 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Parsons during the fourth quarter worth about $63,417,000. 98.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PSN has been the subject of several recent research reports. Robert W. Baird reduced their price objective on Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. The Goldman Sachs Group reduced their price objective on Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. TD Cowen cut Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Friday, February 21st. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Finally, Truist Financial reduced their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.44.

Parsons Stock Performance

Shares of NYSE PSN opened at $59.14 on Tuesday. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68. The stock has a market capitalization of $6.31 billion, a PE ratio of 77.82, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The stock has a 50 day moving average price of $74.55 and a 200 day moving average price of $91.29. 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 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.