BayBridge Capital Group LLC Cuts Stake in Parsons Co. (NYSE:PSN)

BayBridge Capital Group LLC lowered its stake in shares of Parsons Co. (NYSE:PSN) by 10.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,982 shares of the company’s stock after selling 612 shares during the quarter. BayBridge Capital Group LLC’s holdings in Parsons were worth $460,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PSN. State Street Corp grew its position 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 acquiring an additional 616,707 shares during the period. Principal Financial Group Inc. lifted its stake in Parsons by 18.1% in the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after purchasing an additional 183,117 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Parsons by 61.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after purchasing an additional 428,662 shares during the period. Geode Capital Management LLC increased its position in 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 buying an additional 95,040 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in shares of Parsons by 12.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 680,311 shares of the company’s stock valued at $62,759,000 after buying an additional 77,358 shares during the period. Institutional investors own 98.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $103.00 to $111.00 in a research note on Thursday, December 12th. Jefferies Financial Group dropped their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. William Blair lowered shares of Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 23rd. Finally, TD Cowen dropped their target price on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.33.

Parsons Stock Down 0.8 %

PSN opened at $76.91 on Friday. 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 one year low of $65.45 and a one year high of $114.68. The firm has a market capitalization of $8.17 billion, a P/E ratio of 116.54, a price-to-earnings-growth ratio of 1.17 and a beta of 0.73. The company has a fifty day moving average price of $91.44 and a 200-day moving average price of $96.00.

Parsons Company 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.