Amundi Acquires 24,380 Shares of Parsons Co. (NYSE:PSN)

Amundi raised its holdings in Parsons Co. (NYSE:PSN) by 97.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,355 shares of the company’s stock after acquiring an additional 24,380 shares during the quarter. Amundi’s holdings in Parsons were worth $4,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSN. Assetmark Inc. grew its holdings in shares of Parsons by 10.7% in the third quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock worth $285,000 after purchasing an additional 265 shares during the last quarter. Sigma Planning Corp purchased a new position in shares of Parsons during the third quarter worth approximately $232,000. Aptus Capital Advisors LLC bought a new stake in shares of Parsons during the third quarter valued at approximately $563,000. Oppenheimer & Co. Inc. boosted its holdings in shares of Parsons by 37.7% in the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock valued at $2,490,000 after purchasing an additional 6,577 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Parsons by 3.2% in the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PSN shares. KeyCorp lowered their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group dropped their target price on shares of Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Raymond James lowered shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Benchmark reiterated a “buy” rating and set a $90.00 price objective on shares of Parsons in a research note on Wednesday, February 26th. Finally, Robert W. Baird reduced their price objective on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.44.

Parsons Stock Up 2.9 %

Parsons stock opened at $58.29 on Friday. The business has a fifty day moving average price of $75.21 and a 200-day moving average price of $91.55. Parsons Co. has a 1-year low of $54.56 and a 1-year high of $114.68. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 76.70, a PEG ratio of 0.93 and a beta of 0.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55.

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.