Wolverine Asset Management LLC Makes New Investment in Parsons Co. (NYSE:PSN)

Wolverine Asset Management LLC bought a new stake in Parsons Co. (NYSE:PSN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,256 shares of the company’s stock, valued at approximately $577,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PSN. State Street Corp raised its position in Parsons by 60.6% in the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after purchasing an additional 616,707 shares during the period. Principal Financial Group Inc. grew its stake in shares of Parsons by 18.1% in the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after buying an additional 183,117 shares in the last quarter. FMR LLC raised its holdings in shares of Parsons by 391.4% during the 3rd quarter. FMR LLC now owns 195,850 shares of the company’s stock valued at $20,306,000 after buying an additional 155,991 shares during the period. Van ECK Associates Corp lifted its position in Parsons by 39.1% during the 4th quarter. Van ECK Associates Corp now owns 502,178 shares of the company’s stock worth $46,326,000 after acquiring an additional 141,282 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in Parsons in the 4th quarter worth approximately $12,550,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Down 4.0 %

Shares of Parsons stock opened at $59.45 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $85.91 and a 200 day moving average price of $95.24. Parsons Co. has a fifty-two week low of $57.86 and a fifty-two week high of $114.68. The firm has a market cap of $6.35 billion, a P/E ratio of 78.22, a P/E/G ratio of 0.93 and a beta of 0.73.

Analysts Set New Price Targets

A number of research analysts have recently commented on PSN shares. Jefferies Financial Group reduced their target price on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. TD Cowen lowered shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective on the stock. in a report on Friday. The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and raised their target price for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. Finally, KeyCorp lowered their price objective on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.11.

Parsons Company 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.