Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Grows Stake in Parsons Co. (NYSE:PSN)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Parsons Co. (NYSE:PSN) by 23.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,878 shares of the company’s stock after buying an additional 3,396 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Parsons were worth $861,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PSN. Group One Trading L.P. bought a new position in Parsons during the 1st quarter valued at $27,000. Altshuler Shaham Ltd lifted its holdings in Parsons by 40.9% during the 4th quarter. Altshuler Shaham Ltd now owns 1,141 shares of the company’s stock worth $53,000 after buying an additional 331 shares during the last quarter. Covestor Ltd increased its holdings in shares of Parsons by 93.3% in the 1st quarter. Covestor Ltd now owns 1,405 shares of the company’s stock valued at $54,000 after acquiring an additional 678 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Parsons by 34.1% during the third quarter. Tower Research Capital LLC TRC now owns 1,745 shares of the company’s stock worth $68,000 after purchasing an additional 444 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Parsons by 18.9% during the first quarter. Great West Life Assurance Co. Can now owns 2,339 shares of the company’s stock valued at $105,000 after purchasing an additional 372 shares during the last quarter. 98.19% of the stock is currently owned by institutional investors and hedge funds.

Parsons Trading Up 0.6 %

Shares of NYSE:PSN opened at $62.80 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.36. Parsons Co. has a 12-month low of $40.61 and a 12-month high of $63.83. The firm has a fifty day moving average of $57.65 and a two-hundred day moving average of $52.33. The firm has a market capitalization of $6.59 billion, a P/E ratio of 49.06, a price-to-earnings-growth ratio of 2.19 and a beta of 0.80.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Parsons from $66.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Raymond James increased their target price on Parsons from $62.00 to $69.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Bank of America raised shares of Parsons from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $65.00 in a report on Monday, August 14th. Stifel Nicolaus upped their target price on shares of Parsons from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group lifted their price target on Parsons from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

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. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity; missile defense technical solutions; C5ISR; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; nuclear and chemical waste remediation; border security and critical infrastructure protection; counter unmanned air systems; and biometrics and biosurveillance solutions to U.S.