Peregrine Asset Advisers Inc. Has $5.18 Million Position in Parsons Co. (NYSE:PSN)

Peregrine Asset Advisers Inc. lessened its holdings in Parsons Co. (NYSE:PSN) by 32.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,134 shares of the company’s stock after selling 27,282 shares during the quarter. Parsons makes up approximately 1.9% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 13th largest position. Peregrine Asset Advisers Inc. owned 0.05% of Parsons worth $5,178,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. ORG Wealth Partners LLC bought a new position in Parsons during the 4th quarter worth $26,000. GAMMA Investing LLC increased its stake in shares of Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares during the period. True Wealth Design LLC bought a new position in shares of Parsons during the third quarter worth about $30,000. Principal Securities Inc. acquired a new position in shares of Parsons in the fourth quarter worth approximately $33,000. Finally, R Squared Ltd bought a new stake in Parsons in the fourth quarter valued at approximately $38,000. 98.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSN. Robert W. Baird dropped their price target on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday. KeyCorp decreased their price target on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Truist Financial cut their target price on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Parsons presently has a consensus rating of “Moderate Buy” and an average target price of $102.11.

Parsons Trading Down 4.0 %

NYSE:PSN opened at $59.45 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. Parsons Co. has a one year low of $57.86 and a one year high of $114.68. The company has a market cap of $6.35 billion, a PE ratio of 78.22, a PEG ratio of 0.93 and a beta of 0.73. The firm has a 50-day moving average of $86.65 and a 200-day moving average of $95.41.

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.