Alberta Investment Management Corp Invests $959,000 in Parsons Co. (NYSE:PSN)

Alberta Investment Management Corp bought a new stake in shares of Parsons Co. (NYSE:PSN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,400 shares of the company’s stock, valued at approximately $959,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSN. State Street Corp grew its holdings in Parsons by 60.6% during the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after buying an additional 616,707 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Parsons by 18.1% during the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock worth $123,685,000 after acquiring an additional 183,117 shares during the last quarter. Geode Capital Management LLC grew its stake in Parsons by 14.0% during the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after acquiring an additional 95,040 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Parsons by 12.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 680,311 shares of the company’s stock valued at $62,759,000 after acquiring an additional 77,358 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Parsons by 11.8% in the 3rd quarter. Franklin Resources Inc. now owns 601,071 shares of the company’s stock valued at $64,813,000 after acquiring an additional 63,657 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Jefferies Financial Group dropped their price target on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. KeyCorp decreased their price objective on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial dropped their target price on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and increased their price target for the company from $103.00 to $111.00 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.11.

Parsons Price Performance

PSN opened at $59.45 on Friday. Parsons Co. has a 52-week low of $57.86 and a 52-week high of $114.68. The stock 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. The business has a fifty day moving average of $86.65 and a 200 day moving average of $95.41. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

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.