Parsons Co. (NYSE:PSN) Shares Bought by Optimum Investment Advisors

Optimum Investment Advisors increased its position in Parsons Co. (NYSE:PSN) by 50.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,100 shares of the company’s stock after acquiring an additional 700 shares during the period. Optimum Investment Advisors’ holdings in Parsons were worth $194,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mutual of America Capital Management LLC acquired a new position in shares of Parsons in the 3rd quarter worth approximately $2,618,000. Thrivent Financial for Lutherans acquired a new position in Parsons in the third quarter worth approximately $1,138,000. Quest Partners LLC bought a new position in shares of Parsons in the third quarter valued at $432,000. Caprock Group LLC acquired a new stake in shares of Parsons during the 3rd quarter valued at $221,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Parsons by 21.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 25,147 shares of the company’s stock worth $2,607,000 after acquiring an additional 4,523 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSN has been the subject of several analyst reports. TD Cowen downgraded Parsons from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a report on Friday, February 21st. KeyCorp reduced their price objective on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group reduced 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, Benchmark reiterated a “buy” rating and set a $90.00 price objective on shares of Parsons in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.44.

Parsons Price Performance

PSN opened at $59.10 on Friday. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 77.76, a PEG ratio of 0.93 and a beta of 0.78. Parsons Co. has a 1 year low of $54.56 and a 1 year 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. The stock has a fifty day moving average price of $72.00 and a 200 day moving average price of $90.33.

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.