Norden Group LLC Makes New $499,000 Investment in Parsons Co. (NYSE:PSN)

Norden Group LLC bought a new position in shares of Parsons Co. (NYSE:PSN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,408 shares of the company’s stock, valued at approximately $499,000.

A number of other institutional investors also recently bought and sold shares of PSN. Wealth Enhancement Advisory Services LLC raised its stake in Parsons by 63.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,707 shares of the company’s stock worth $592,000 after purchasing an additional 2,209 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Parsons during the third quarter worth about $72,000. State of Alaska Department of Revenue acquired a new stake in shares of Parsons during the third quarter valued at about $561,000. New York State Teachers Retirement System acquired a new stake in shares of Parsons during the third quarter valued at about $1,110,000. Finally, Van ECK Associates Corp increased its position in shares of Parsons by 26.3% during the third quarter. Van ECK Associates Corp now owns 360,896 shares of the company’s stock valued at $37,670,000 after acquiring an additional 75,096 shares during the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Trading Down 4.9 %

NYSE PSN opened at $55.36 on Tuesday. 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 Co. has a 52 week low of $54.90 and a 52 week high of $114.68. The stock has a market capitalization of $5.91 billion, a PE ratio of 72.84, a price-to-earnings-growth ratio of 0.93 and a beta of 0.73. The firm has a 50 day moving average of $81.44 and a two-hundred day moving average of $93.84.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PSN shares. Jefferies Financial Group dropped their price target 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. Robert W. Baird dropped their price target 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. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group dropped their price target 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, TD Cowen cut shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parsons 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.