Allspring Global Investments Holdings LLC Sells 348,883 Shares of Parsons Co. (NYSE:PSN)

Allspring Global Investments Holdings LLC lessened its stake in shares of Parsons Co. (NYSE:PSN) by 31.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 774,483 shares of the company’s stock after selling 348,883 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Parsons were worth $70,133,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new stake in shares of Parsons during the 4th quarter valued at $26,000. GAMMA Investing LLC raised its position in 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 purchasing an additional 218 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Parsons during the third quarter valued at about $30,000. V Square Quantitative Management LLC bought a new stake in shares of Parsons during the third quarter worth about $33,000. Finally, R Squared Ltd bought a new position in Parsons in the 4th quarter valued at approximately $38,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Raymond James downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. KeyCorp cut their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group lowered 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. The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and upped their price target for the company from $103.00 to $111.00 in a research report on Thursday, December 12th. Finally, William Blair downgraded Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.33.

Parsons Stock Down 1.1 %

Shares of NYSE:PSN opened at $75.98 on Thursday. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 115.12, a P/E/G ratio of 1.17 and a beta of 0.73. The business’s 50-day moving average is $90.34 and its 200-day moving average is $96.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. Parsons Co. has a 1 year low of $67.18 and a 1 year high of $114.68.

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.