Facet Wealth Inc. Acquires New Stake in Parsons Co. (NYSE:PSN)

Facet Wealth Inc. purchased a new position in shares of Parsons Co. (NYSE:PSN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 32,959 shares of the company’s stock, valued at approximately $3,040,000.

Several other large investors also recently bought and sold shares of the stock. Norden Group LLC purchased a new position in shares of Parsons in the 4th quarter valued at about $499,000. Oppenheimer & Co. Inc. boosted its position in shares of Parsons by 37.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock valued at $2,490,000 after purchasing an additional 6,577 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of Parsons in the 4th quarter valued at about $577,000. Geode Capital Management LLC boosted its position in shares of Parsons by 14.0% in the 3rd quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after purchasing an additional 95,040 shares during the period. Finally, Truist Financial Corp boosted its position in shares of Parsons by 12.5% in the 4th quarter. Truist Financial Corp now owns 45,253 shares of the company’s stock valued at $4,175,000 after purchasing an additional 5,032 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PSN. The Goldman Sachs Group decreased their target price on Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Benchmark reissued a “buy” rating and issued a $90.00 target price on shares of Parsons in a research report on Wednesday, February 26th. TD Cowen cut Parsons from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a research report on Friday, February 21st. Finally, Robert W. Baird decreased their price objective on 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, Parsons presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.44.

Parsons Stock Performance

Shares of PSN stock opened at $58.29 on Friday. The company has a market cap of $6.22 billion, a price-to-earnings ratio of 76.70, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The stock has a 50 day simple moving average of $75.21 and a 200-day simple moving average of $91.55. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31.

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.