15,711 Shares in Parsons Co. (NYSE:PSN) Purchased by Empowered Funds LLC

Empowered Funds LLC purchased a new stake in Parsons Co. (NYSE:PSN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,711 shares of the company’s stock, valued at approximately $1,449,000.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC increased its position in Parsons by 2,752.2% during the 3rd quarter. CWM LLC now owns 5,134 shares of the company’s stock worth $532,000 after buying an additional 4,954 shares during the period. Creative Planning grew its stake in shares of Parsons by 15.0% in the third quarter. Creative Planning now owns 8,490 shares of the company’s stock valued at $880,000 after acquiring an additional 1,109 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Parsons in the third quarter valued at about $33,000. Stratos Wealth Advisors LLC acquired a new stake in Parsons in the 3rd quarter worth about $344,000. Finally, Net Worth Advisory Group acquired a new stake in Parsons in the 3rd quarter worth about $214,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Robert W. Baird raised their target price on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group lowered their price objective on Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Truist Financial cut their target price on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, KeyCorp cut their price objective on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.33.

Parsons Stock Performance

Parsons stock opened at $73.37 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock has a market cap of $7.79 billion, a PE ratio of 111.16, a P/E/G ratio of 1.17 and a beta of 0.73. Parsons Co. has a 12-month low of $72.12 and a 12-month high of $114.68. The business’s 50-day moving average price is $88.88 and its two-hundred day moving average price is $96.08.

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.