Swiss National Bank Increases Holdings in Parsons Co. (NYSE:PSN)

Swiss National Bank grew its holdings in shares of Parsons Co. (NYSE:PSN) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,000 shares of the company’s stock after buying an additional 600 shares during the period. Swiss National Bank owned 0.09% of Parsons worth $8,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in PSN. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Parsons in the 4th quarter valued at about $7,171,000. Avantax Advisory Services Inc. boosted its stake in shares of Parsons by 6.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 28,635 shares of the company’s stock worth $2,642,000 after acquiring an additional 1,794 shares in the last quarter. Channing Capital Management LLC lifted its stake in Parsons by 10.2% in the 4th quarter. Channing Capital Management LLC now owns 743,047 shares of the company’s stock valued at $68,546,000 after buying an additional 68,599 shares in the last quarter. Independent Advisor Alliance purchased a new stake in Parsons in the 4th quarter valued at approximately $2,759,000. Finally, Lauterbach Financial Advisors LLC purchased a new stake in Parsons in the 4th quarter valued at approximately $203,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of PSN stock opened at $59.10 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $72.00 and a two-hundred day moving average of $90.35. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68. 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.

Analyst Ratings Changes

PSN has been the topic of a number of recent research reports. Robert W. Baird reduced their target price on Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. TD Cowen lowered Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective on the stock. in a research report on Friday, February 21st. The Goldman Sachs Group cut their price objective on Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Truist Financial lowered their target price on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, 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 note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Parsons has an average rating of “Moderate Buy” and an average price target of $99.44.

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.