Dynamic Technology Lab Private Ltd Invests $1.12 Million in Parsons Co. (NYSE:PSN)

Dynamic Technology Lab Private Ltd bought a new position in shares of Parsons Co. (NYSE:PSN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,912 shares of the company's stock, valued at approximately $1,123,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Parsons by 12.5% during the 4th quarter. Principal Financial Group Inc. now owns 382,897 shares of the company's stock worth $24,011,000 after buying an additional 42,531 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Parsons by 5.8% in the 3rd quarter. Legal & General Group Plc now owns 536,292 shares of the company's stock valued at $29,147,000 after acquiring an additional 29,225 shares during the period. Quadrature Capital Ltd purchased a new stake in Parsons in the 3rd quarter valued at $1,117,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Parsons during the 3rd quarter worth $984,000. Finally, Van ECK Associates Corp grew its position in Parsons by 68.0% during the 3rd quarter. Van ECK Associates Corp now owns 21,559 shares of the company's stock worth $1,172,000 after purchasing an additional 8,724 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company's stock.

Parsons Price Performance

Shares of NYSE:PSN traded down $0.06 on Tuesday, reaching $77.15. 469,859 shares of the company were exchanged, compared to its average volume of 866,717. The company has a 50-day moving average of $79.99 and a 200-day moving average of $71.53. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 427.91, a price-to-earnings-growth ratio of 2.85 and a beta of 0.86. Parsons Co. has a 1-year low of $42.79 and a 1-year high of $85.44.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PSN. TD Cowen raised shares of Parsons from a "hold" rating to a "buy" rating and upped their target price for the company from $77.00 to $90.00 in a report on Friday, May 3rd. Truist Financial increased their price objective on Parsons from $84.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, April 9th. Raymond James raised Parsons from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $82.00 to $95.00 in a report on Wednesday, May 1st. KeyCorp upped their price target on Parsons from $89.00 to $90.00 and gave the stock an "overweight" rating in a research note on Friday, April 19th. Finally, The Goldman Sachs Group lifted their price objective on shares of Parsons from $73.00 to $81.00 and gave the company a "neutral" rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $83.10.

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.