abrdn plc Lowers Stake in Parsons Co. (NYSE:PSN)

abrdn plc lessened its position in Parsons Co. (NYSE:PSN) by 95.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,669 shares of the company’s stock after selling 311,992 shares during the period. abrdn plc’s holdings in Parsons were worth $1,267,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PSN. ORG Wealth Partners LLC purchased a new position in shares of Parsons during the 4th quarter worth $26,000. GAMMA Investing LLC increased its stake in Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after purchasing an additional 218 shares during the last quarter. True Wealth Design LLC purchased a new position in Parsons during the third quarter worth about $30,000. V Square Quantitative Management LLC acquired a new stake in Parsons in the 3rd quarter worth about $33,000. Finally, R Squared Ltd acquired a new stake in Parsons in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Ratings Changes

PSN has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. TD Cowen dropped their price target on shares of Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Truist Financial decreased their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. KeyCorp dropped their price objective on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and lifted their target price for the company from $103.00 to $111.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.33.

Parsons Stock Up 1.3 %

Shares of NYSE PSN opened at $77.94 on Tuesday. The stock has a fifty day moving average price of $91.06 and a 200 day moving average price of $96.24. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons Co. has a 12-month low of $67.18 and a 12-month high of $114.68. The company has a market cap of $8.28 billion, a P/E ratio of 118.09, a P/E/G ratio of 1.17 and a beta of 0.73.

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.