Otter Creek Advisors LLC Sells 27,612 Shares of Parsons Co. (NYSE:PSN)

Otter Creek Advisors LLC reduced its holdings in Parsons Co. (NYSE:PSN) by 34.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,236 shares of the company’s stock after selling 27,612 shares during the quarter. Parsons accounts for about 3.4% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Otter Creek Advisors LLC’s holdings in Parsons were worth $4,911,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PSN. ORG Wealth Partners LLC bought a new position in Parsons during the 4th quarter worth about $26,000. GAMMA Investing LLC boosted its position in shares of Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after buying an additional 218 shares during the period. True Wealth Design LLC bought a new position in shares of Parsons during the third quarter worth about $30,000. Principal Securities Inc. acquired a new stake in Parsons in the 4th quarter valued at approximately $33,000. Finally, R Squared Ltd bought a new stake in Parsons in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Truist Financial lowered their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. KeyCorp cut their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. TD Cowen cut Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a report on Friday, February 21st. Finally, Jefferies Financial Group dropped their target price on Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.44.

Parsons Stock Down 1.9 %

PSN stock opened at $59.10 on Thursday. Parsons Co. has a 1-year low of $57.22 and a 1-year high of $114.68. The business’s 50 day simple moving average is $83.69 and its 200 day simple moving average is $94.58. 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 firm has a market capitalization of $6.31 billion, a PE ratio of 77.76, a PEG ratio of 0.93 and a beta of 0.73.

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.