Oppenheimer & Co. Inc. Sells 7,524 Shares of Parsons Co. (NYSE:PSN)

Oppenheimer & Co. Inc. trimmed its position in shares of Parsons Co. (NYSE:PSN) by 31.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,492 shares of the company’s stock after selling 7,524 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Parsons were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D acquired a new stake in shares of Parsons in the third quarter valued at approximately $2,172,000. Wolverine Asset Management LLC acquired a new stake in shares of Parsons in the fourth quarter valued at approximately $577,000. Aigen Investment Management LP acquired a new stake in shares of Parsons in the third quarter valued at approximately $1,004,000. Geode Capital Management LLC increased its holdings in shares of Parsons by 14.0% in the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after purchasing an additional 95,040 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Parsons by 12.5% in the fourth quarter. Truist Financial Corp now owns 45,253 shares of the company’s stock valued at $4,175,000 after purchasing an additional 5,032 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PSN has been the subject of a number of research reports. Benchmark reissued a “buy” rating and issued a $90.00 price target on shares of Parsons in a report on Wednesday, February 26th. KeyCorp lowered their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Robert W. Baird lowered their price target on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Truist Financial lowered their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Jefferies Financial Group lowered their target price on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.44.

Parsons Trading Down 4.9 %

Shares of NYSE PSN opened at $55.36 on Tuesday. The company’s fifty day moving average is $81.44 and its 200-day moving average is $93.84. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 72.84, a P/E/G ratio of 0.93 and a beta of 0.73. Parsons Co. has a twelve month low of $54.90 and a twelve month high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

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.