New York State Common Retirement Fund Increases Stock Position in Parsons Co. (NYSE:PSN)

New York State Common Retirement Fund raised its holdings in Parsons Co. (NYSE:PSN) by 42.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 280,506 shares of the company’s stock after purchasing an additional 82,970 shares during the quarter. New York State Common Retirement Fund owned 0.26% of Parsons worth $25,877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PSN. ORG Wealth Partners LLC purchased a new stake in Parsons in the 4th quarter valued at approximately $26,000. 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 in the last quarter. True Wealth Design LLC purchased a new stake in shares of Parsons during the 3rd quarter worth approximately $30,000. Principal Securities Inc. purchased a new stake in shares of Parsons during the 4th quarter worth approximately $33,000. Finally, R Squared Ltd purchased a new stake in shares of Parsons during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Price Performance

PSN stock opened at $59.45 on Friday. Parsons Co. has a 1 year low of $57.86 and a 1 year high of $114.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The stock’s 50 day moving average price is $86.65 and its 200 day moving average price is $95.41. The firm has a market cap of $6.31 billion, a P/E ratio of 78.22, a PEG ratio of 0.98 and a beta of 0.73.

Analysts Set New Price Targets

PSN has been the topic of several research analyst reports. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Robert W. Baird decreased their price target on Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday. Truist Financial decreased their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group decreased their price target on Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Parsons currently has an average rating of “Moderate Buy” and an average price target of $102.11.

Parsons Company 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.