State of New Jersey Common Pension Fund D Acquires 1,279 Shares of Parsons Co. (NYSE:PSN)

State of New Jersey Common Pension Fund D boosted its holdings in Parsons Co. (NYSE:PSN) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,232 shares of the company’s stock after buying an additional 1,279 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Parsons were worth $2,051,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Csenge Advisory Group raised its holdings in Parsons by 42.4% in the 4th quarter. Csenge Advisory Group now owns 4,902 shares of the company’s stock valued at $452,000 after buying an additional 1,459 shares during the last quarter. Principal Securities Inc. bought a new position in Parsons during the 4th quarter worth approximately $33,000. Congress Asset Management Co. bought a new position in Parsons during the 4th quarter worth approximately $8,361,000. Blue Trust Inc. raised its holdings in Parsons by 117.6% during the 4th quarter. Blue Trust Inc. now owns 2,265 shares of the company’s stock worth $209,000 after purchasing an additional 1,224 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in Parsons by 3.8% during the 4th quarter. New York State Teachers Retirement System now owns 11,117 shares of the company’s stock worth $1,026,000 after purchasing an additional 409 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Parsons Stock Performance

NYSE PSN opened at $59.45 on Friday. The company has a fifty day simple moving average of $85.91 and a 200 day simple moving average of $95.20. Parsons Co. has a 12-month low of $57.86 and a 12-month high of $114.68. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.35 billion, a P/E ratio of 78.22, a PEG ratio of 0.93 and a beta of 0.73.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PSN shares. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 18th. Robert W. Baird lowered their price target on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday. TD Cowen downgraded shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Friday. KeyCorp reduced their price objective on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Truist Financial reduced their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.11.

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.