Navellier & Associates Inc. Acquires 9,467 Shares of Parsons Co. (NYSE:PSN)

Navellier & Associates Inc. increased its holdings in Parsons Co. (NYSE:PSN) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,538 shares of the company’s stock after buying an additional 9,467 shares during the quarter. Parsons accounts for about 1.0% of Navellier & Associates Inc.’s investment portfolio, making the stock its 21st largest position. Navellier & Associates Inc. owned approximately 0.09% of Parsons worth $8,444,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PSN. Fisher Asset Management LLC boosted its stake in shares of Parsons by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock worth $452,000 after acquiring an additional 90 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Parsons by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after purchasing an additional 96 shares during the period. Chartwell Investment Partners LLC lifted its position in Parsons by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after purchasing an additional 117 shares in the last quarter. GAMMA Investing LLC grew its holdings in Parsons by 224.7% during 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 period. Finally, Assetmark Inc. increased its position in Parsons by 10.7% in the third quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock worth $285,000 after buying an additional 265 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PSN. KeyCorp lowered their price objective on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. TD Cowen lowered shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research report on Friday. Robert W. Baird reduced their price objective on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday. Jefferies Financial Group lowered their target price 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. Finally, Truist Financial cut their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Two 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 presently has an average rating of “Moderate Buy” and a consensus price target of $102.11.

Parsons Stock Down 4.0 %

Shares of PSN stock opened at $59.45 on Friday. The company’s fifty day simple moving average is $86.65 and its two-hundred day simple moving average is $95.41. Parsons Co. has a 52 week low of $57.86 and a 52 week high of $114.68. The stock has a market cap of $6.35 billion, a P/E ratio of 78.22, a PEG ratio of 0.93 and a beta of 0.73. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

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.