Harbor Capital Advisors Inc. Invests $2.13 Million in Parsons Co. (NYSE:PSN)

Harbor Capital Advisors Inc. purchased a new stake in Parsons Co. (NYSE:PSN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,970 shares of the company’s stock, valued at approximately $2,125,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Parsons by 10.2% during the first quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock worth $376,997,000 after buying an additional 421,085 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Parsons by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,393,813 shares of the company’s stock worth $87,407,000 after purchasing an additional 105,648 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Parsons by 162.5% during the first quarter. Principal Financial Group Inc. now owns 1,005,140 shares of the company’s stock valued at $83,376,000 after acquiring an additional 622,243 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Parsons by 9.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 927,251 shares of the company’s stock worth $58,148,000 after purchasing an additional 77,010 shares during the period. Finally, Norges Bank bought a new stake in shares of Parsons in the 4th quarter valued at $37,854,000. Institutional investors own 98.02% of the company’s stock.

Parsons Stock Down 0.3 %

Shares of NYSE PSN traded down $0.30 during mid-day trading on Wednesday, reaching $88.98. 625,985 shares of the company’s stock traded hands, compared to its average volume of 894,417. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.79. The business has a 50-day simple moving average of $79.09 and a 200 day simple moving average of $77.82. The stock has a market cap of $13.06 billion, a P/E ratio of 496.03, a PEG ratio of 2.59 and a beta of 0.81. Parsons Co. has a 1-year low of $53.56 and a 1-year high of $91.44.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. The Goldman Sachs Group upped their target price on Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Raymond James upgraded Parsons from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $82.00 to $95.00 in a report on Wednesday, May 1st. TD Cowen upgraded Parsons from a “hold” rating to a “buy” rating and increased their price target for the stock from $77.00 to $90.00 in a report on Friday, May 3rd. Finally, Benchmark lifted their price objective on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $91.70.

Parsons 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.