Allspring Global Investments Holdings LLC Has $70.13 Million Holdings in Parsons Co. (NYSE:PSN)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Parsons Co. (NYSE:PSN) by 31.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 774,483 shares of the company’s stock after selling 348,883 shares during the period. Allspring Global Investments Holdings LLC owned 0.73% of Parsons worth $70,133,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. CWM LLC grew its holdings in Parsons by 2,752.2% during the third quarter. CWM LLC now owns 5,134 shares of the company’s stock valued at $532,000 after purchasing an additional 4,954 shares during the period. Creative Planning boosted its position in Parsons by 15.0% during the third quarter. Creative Planning now owns 8,490 shares of the company’s stock valued at $880,000 after purchasing an additional 1,109 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Parsons during the 3rd quarter worth approximately $726,000. Optimum Investment Advisors bought a new stake in shares of Parsons during the 3rd quarter worth approximately $145,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Parsons in the 3rd quarter valued at approximately $33,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Stock Down 1.1 %

Shares of PSN opened at $75.98 on Thursday. The firm has a 50 day simple moving average of $90.34 and a two-hundred day simple moving average of $96.24. The company has a market cap of $8.07 billion, a P/E ratio of 115.12, a P/E/G ratio of 1.17 and a beta of 0.73. Parsons Co. has a one year low of $67.18 and a one year high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PSN. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $103.00 to $111.00 in a research report on Thursday, December 12th. Jefferies Financial Group reduced their price target on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. Robert W. Baird upped their price objective on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, TD Cowen dropped their price target on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.33.

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.