Mutual of America Capital Management LLC Lowers Stock Position in Parsons Co. (NYSE:PSN)

Mutual of America Capital Management LLC reduced its position in Parsons Co. (NYSE:PSN) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,681 shares of the company’s stock after selling 569 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Parsons were worth $2,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new position in shares of Parsons in the 4th quarter worth about $26,000. GAMMA Investing LLC raised its holdings in Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares during the period. True Wealth Design LLC acquired a new position in Parsons during the third quarter valued at approximately $30,000. Principal Securities Inc. purchased a new stake in Parsons during the fourth quarter worth approximately $33,000. Finally, R Squared Ltd acquired a new stake in shares of Parsons in the fourth quarter worth $38,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Trading Up 5.1 %

NYSE:PSN opened at $60.34 on Friday. Parsons Co. has a 52 week low of $54.56 and a 52 week 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. The company has a market cap of $6.44 billion, a PE ratio of 79.39, a P/E/G ratio of 0.93 and a beta of 0.78. The business’s 50 day moving average is $78.64 and its two-hundred day moving average is $92.86.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. Truist Financial reduced their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. The Goldman Sachs Group lowered their price objective on shares of Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Finally, KeyCorp decreased their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.44.

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.