PNC Financial Services Group Inc. Trims Stock Holdings in Parsons Co. (NYSE:PSN)

PNC Financial Services Group Inc. trimmed its holdings in Parsons Co. (NYSE:PSN) by 15.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,876 shares of the company’s stock after selling 1,037 shares during the period. PNC Financial Services Group Inc.’s holdings in Parsons were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of PSN. ORG Wealth Partners LLC bought a new position in Parsons in the 4th quarter valued at $26,000. True Wealth Design LLC bought a new position in Parsons in the 3rd quarter valued at $30,000. GAMMA Investing LLC boosted its holdings in Parsons by 224.7% in the 4th 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. Principal Securities Inc. bought a new position in Parsons in the 4th quarter valued at $33,000. Finally, R Squared Ltd bought a new position in Parsons in the 4th quarter valued at $38,000. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSN has been the subject of several analyst reports. Robert W. Baird cut 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. KeyCorp dropped their price objective 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. Jefferies Financial Group dropped their price objective 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. The Goldman Sachs Group dropped their price objective on shares of Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Finally, TD Cowen downgraded shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.44.

Parsons Price Performance

Shares of NYSE:PSN opened at $60.82 on Thursday. The stock has a market cap of $6.49 billion, a PE ratio of 80.02, a PEG ratio of 0.93 and a beta of 0.78. The company’s fifty day moving average is $73.33 and its 200 day moving average is $90.83. 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.

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.