Wolverine Asset Management LLC Buys Shares of 6,256 Parsons Co. (NYSE:PSN)

Wolverine Asset Management LLC purchased a new position in shares of Parsons Co. (NYSE:PSN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,256 shares of the company’s stock, valued at approximately $577,000.

Several other institutional investors and hedge funds also recently modified their holdings of PSN. Creative Planning lifted its holdings in Parsons by 15.0% in the third quarter. Creative Planning now owns 8,490 shares of the company’s stock worth $880,000 after purchasing an additional 1,109 shares during the period. Allworth Financial LP lifted its stake in shares of Parsons by 43.6% in the 3rd quarter. Allworth Financial LP now owns 6,585 shares of the company’s stock worth $683,000 after acquiring an additional 1,999 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Parsons in the 3rd quarter worth approximately $1,337,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Parsons by 63.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,707 shares of the company’s stock valued at $592,000 after acquiring an additional 2,209 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Parsons during the third quarter valued at approximately $72,000. Institutional investors own 98.02% of the company’s stock.

Parsons Price Performance

PSN stock opened at $59.45 on Monday. The firm has a 50-day moving average of $85.91 and a two-hundred day moving average of $95.24. The firm has a market capitalization of $6.35 billion, a PE ratio of 78.22, a P/E/G ratio of 0.93 and a beta of 0.73. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. Parsons Co. has a one year low of $57.86 and a one year high of $114.68.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Jefferies Financial Group decreased their price target on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Truist Financial dropped their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and raised their price objective for the company from $103.00 to $111.00 in a research report on Thursday, December 12th. Finally, TD Cowen downgraded shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a report on Friday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Parsons has an average rating of “Moderate Buy” and an average target price of $102.11.

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.