Spire Wealth Management Decreases Stock Position in Parsons Co. (NYSE:PSN)

Spire Wealth Management lessened its position in shares of Parsons Co. (NYSE:PSN) by 96.9% during the 4th quarter, Holdings Channel reports. The firm owned 317 shares of the company’s stock after selling 9,909 shares during the quarter. Spire Wealth Management’s holdings in Parsons were worth $29,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new stake in Parsons in the 4th quarter worth approximately $26,000. GAMMA Investing LLC boosted its position in Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after acquiring an additional 218 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Parsons in the third quarter valued at approximately $30,000. V Square Quantitative Management LLC purchased a new position in Parsons during the third quarter worth about $33,000. Finally, R Squared Ltd purchased a new position in Parsons in the fourth quarter worth approximately $38,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on PSN shares. William Blair cut Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $103.00 to $111.00 in a research note on Thursday, December 12th. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. KeyCorp cut 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, Truist Financial decreased their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.33.

Parsons Trading Down 0.8 %

NYSE:PSN opened at $76.91 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $91.06 and a 200-day simple moving average of $96.11. Parsons Co. has a 52-week low of $65.45 and a 52-week high of $114.68. The company has a market capitalization of $8.17 billion, a PE ratio of 116.54, a price-to-earnings-growth ratio of 1.17 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.