Strategic Advocates LLC Makes New $219,000 Investment in Parsons Corporation (NYSE:PSN)

Key Points

• Strategic Advocates LLC has invested $219,000 in Parsons Corporation by acquiring 3,703 shares, highlighting renewed interest from institutional investors in the company.
• Parsons Corporation's stock shows a market cap of $7.94 billion and its shares have fluctuated between a 52-week low of $54.56 and a high of $114.68.
• The stock has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a target price set at $86.20, reflecting varying outlooks from different research firms.

Strategic Advocates LLC acquired a new position in Parsons Corporation (NYSE:PSN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,703 shares of the company's stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Parsons by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company's stock worth $422,093,000 after buying an additional 59,545 shares during the period. Invesco Ltd. boosted its holdings in shares of Parsons by 14.2% during the 4th quarter. Invesco Ltd. now owns 2,056,390 shares of the company's stock valued at $189,702,000 after purchasing an additional 255,810 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Parsons by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,189,811 shares of the company's stock valued at $109,762,000 after purchasing an additional 26,230 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Parsons by 53.8% during the 1st quarter. Mackenzie Financial Corp now owns 1,084,288 shares of the company's stock valued at $64,201,000 after purchasing an additional 379,254 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Parsons by 5.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,069,175 shares of the company's stock valued at $98,631,000 after purchasing an additional 52,522 shares during the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Trading Down 0.6%

Shares of NYSE:PSN traded down $0.44 during trading on Friday, reaching $73.76. The company's stock had a trading volume of 845,488 shares, compared to its average volume of 899,794. 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 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 $71.30 and its two-hundred day simple moving average is $69.05. The stock has a market capitalization of $7.88 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 4.56 and a beta of 0.58.

Analysts Set New Price Targets

Several research analysts have commented on PSN shares. Bank of America dropped their price objective on shares of Parsons from $100.00 to $95.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. Stifel Nicolaus started coverage on shares of Parsons in a report on Tuesday, June 24th. They set a "buy" rating and a $81.00 price objective for the company. 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. Raymond James Financial raised shares of Parsons from a "market perform" rating to a "strong-buy" rating and set a $90.00 price objective for the company in a report on Tuesday, July 8th. Finally, KeyCorp increased their price target on shares of Parsons from $73.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $86.20.

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.