Los Angeles Capital Management LLC Grows Position in Parsons Co. (NYSE:PSN)

Los Angeles Capital Management LLC grew its position in Parsons Co. (NYSE:PSN) by 23.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,448 shares of the company’s stock after purchasing an additional 16,748 shares during the period. Los Angeles Capital Management LLC owned approximately 0.08% of Parsons worth $8,067,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC raised its stake in shares of Parsons by 2.1% in the 3rd quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock valued at $452,000 after acquiring an additional 90 shares during the period. CIBC Asset Management Inc boosted its position in Parsons by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock valued at $324,000 after buying an additional 96 shares during the last quarter. Chartwell Investment Partners LLC grew its stake in Parsons by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after purchasing an additional 117 shares in the last quarter. GAMMA Investing LLC increased its holdings in Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after purchasing an additional 218 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Parsons by 10.7% during the third quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock worth $285,000 after buying an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Robert W. Baird cut their price target on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group reduced their target price on Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday. KeyCorp dropped their price target on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Raymond James downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $99.44.

Parsons Price Performance

Shares of PSN opened at $59.10 on Thursday. Parsons Co. has a 12 month low of $57.22 and a 12 month high of $114.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The stock has a fifty day moving average price of $83.69 and a 200 day moving average price of $94.58. The company has a market cap of $6.31 billion, a P/E ratio of 77.76, a PEG ratio of 0.93 and a beta of 0.73.

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.