Parsons Co. (NYSE:PSN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of Parsons Co. (NYSE:PSN) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 355,417 shares of the company’s stock after selling 15,900 shares during the period. Bank of New York Mellon Corp owned 0.33% of Parsons worth $32,787,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PSN. ORG Wealth Partners LLC bought a new position in shares of Parsons during the fourth quarter worth about $26,000. True Wealth Design LLC bought a new position in shares of Parsons during the third quarter worth about $30,000. GAMMA Investing LLC grew its position in shares of Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after acquiring an additional 218 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Parsons during the fourth quarter worth about $33,000. Finally, R Squared Ltd bought a new position in shares of Parsons during the fourth quarter worth about $38,000. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSN has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and issued a $90.00 target price on shares of Parsons in a research report on Wednesday, February 26th. Raymond James lowered shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Jefferies Financial Group reduced their price objective on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, January 24th. TD Cowen lowered shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Friday, February 21st. Finally, 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 report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.44.

Parsons Price Performance

NYSE PSN opened at $60.34 on Friday. The company has a 50 day simple moving average of $78.64 and a 200-day simple moving average of $92.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 79.39, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. Parsons Co. has a 52-week low of $54.56 and a 52-week high of $114.68.

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.