Mitsubishi UFJ Asset Management Co. Ltd. Has $842,000 Stake in Parsons Co. (NYSE:PSN)

Mitsubishi UFJ Asset Management Co. Ltd. lowered its holdings in Parsons Co. (NYSE:PSN) by 30.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,681 shares of the company’s stock after selling 6,030 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Parsons were worth $842,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Private Advisor Group LLC grew its holdings in Parsons by 3.7% in the 4th quarter. Private Advisor Group LLC now owns 4,857 shares of the company’s stock valued at $305,000 after buying an additional 174 shares during the last quarter. Arizona State Retirement System grew its holdings in Parsons by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 11,942 shares of the company’s stock valued at $649,000 after buying an additional 178 shares during the last quarter. Jennison Associates LLC grew its holdings in Parsons by 1.6% in the 4th quarter. Jennison Associates LLC now owns 15,151 shares of the company’s stock valued at $950,000 after buying an additional 239 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Parsons by 7.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,733 shares of the company’s stock valued at $297,000 after buying an additional 327 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in Parsons by 7.0% in the 3rd quarter. Amalgamated Bank now owns 5,060 shares of the company’s stock valued at $275,000 after buying an additional 331 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Parsons in a research report on Thursday, April 4th. The Goldman Sachs Group increased their price target on Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Raymond James upgraded Parsons from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $82.00 to $95.00 in a research note on Wednesday, May 1st. Truist Financial raised their target price on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, TD Cowen upgraded Parsons from a “hold” rating to a “buy” rating and increased their price target for the stock from $77.00 to $90.00 in a report on Friday, May 3rd. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $83.10.

Parsons Stock Down 0.1 %

PSN opened at $77.15 on Wednesday. The firm has a market capitalization of $11.32 billion, a P/E ratio of 428.63, a price-to-earnings-growth ratio of 2.87 and a beta of 0.86. Parsons Co. has a one year low of $42.79 and a one year high of $85.44. The company has a fifty day moving average price of $79.91 and a 200-day moving average price of $71.64. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

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.