Peregrine Asset Advisers Inc. Sells 49,785 Shares of Parsons Corporation (NYSE:PSN)

Peregrine Asset Advisers Inc. trimmed its stake in shares of Parsons Corporation (NYSE:PSN - Free Report) by 88.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,349 shares of the company's stock after selling 49,785 shares during the quarter. Peregrine Asset Advisers Inc.'s holdings in Parsons were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Parsons by 0.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,207 shares of the company's stock valued at $1,311,000 after acquiring an additional 131 shares during the last quarter. ProShare Advisors LLC raised its stake in Parsons by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 2,185 shares of the company's stock worth $202,000 after buying an additional 149 shares in the last quarter. CWM LLC raised its position in shares of Parsons by 2.1% in the 1st quarter. CWM LLC now owns 7,810 shares of the company's stock worth $462,000 after acquiring an additional 163 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Parsons by 1.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 17,205 shares of the company's stock worth $1,587,000 after purchasing an additional 194 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of Parsons by 1.8% in the 1st quarter. New York State Teachers Retirement System now owns 11,317 shares of the company's stock worth $670,000 after acquiring an additional 200 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Baird R W downgraded shares of Parsons from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Robert W. Baird lowered shares of Parsons from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $72.00 to $69.00 in a research report on Thursday, May 1st. Bank of America dropped their price objective on Parsons from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd. Truist Financial upped their target price on shares of Parsons from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, The Goldman Sachs Group dropped their price objective on shares of Parsons from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Parsons currently has an average rating of "Moderate Buy" and a consensus price target of $86.20.

Parsons Trading Down 0.6%

Shares of NYSE:PSN traded down $0.47 during trading on Thursday, reaching $75.59. The company's stock had a trading volume of 180,138 shares, compared to its average volume of 1,448,941. The stock has a market capitalization of $8.08 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 4.48 and a beta of 0.55. Parsons Corporation has a 12 month low of $54.56 and a 12 month high of $114.68. The firm's 50 day simple moving average is $70.45 and its two-hundred day simple moving average is $69.74. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.31.

Parsons 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.