Nuveen Asset Management LLC Increases Position in Parsons Co. (NYSE:PSN)

Posted by Defense World Staff on Mar 2nd, 2023

Nuveen Asset Management LLC boosted its holdings in shares of Parsons Co. (NYSE:PSN – Get Rating) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 669,384 shares of the company’s stock after acquiring an additional 29,043 shares during the period. Nuveen Asset Management LLC owned 0.65% of Parsons worth $26,240,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of Parsons by 56.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,931,806 shares of the company’s stock valued at $158,924,000 after buying an additional 1,420,028 shares during the period. Vanguard Group Inc. grew its stake in shares of Parsons by 15.2% in the 1st quarter. Vanguard Group Inc. now owns 3,128,822 shares of the company’s stock valued at $121,084,000 after buying an additional 412,992 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Parsons by 11.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,092,248 shares of the company’s stock valued at $42,816,000 after buying an additional 115,887 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Parsons in the 1st quarter valued at approximately $20,520,000. Finally, abrdn plc purchased a new stake in shares of Parsons in the 2nd quarter valued at approximately $17,585,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Parsons from $43.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, November 3rd. Truist Financial upped their price objective on shares of Parsons from $42.00 to $50.00 in a report on Thursday, November 3rd. Morgan Stanley decreased their price objective on shares of Parsons from $40.00 to $39.00 and set an “underweight” rating on the stock in a report on Thursday, February 16th. Cowen upped their price objective on shares of Parsons to $51.00 in a report on Wednesday, November 16th. Finally, Bank of America lowered shares of Parsons from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $43.00 to $49.00 in a report on Thursday, December 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Parsons presently has an average rating of “Hold” and a consensus price target of $48.50.

Parsons Price Performance

Parsons stock opened at $44.88 on Thursday. The firm has a market cap of $4.70 billion, a PE ratio of 51.00, a price-to-earnings-growth ratio of 2.15 and a beta of 0.84. Parsons Co. has a 52-week low of $34.35 and a 52-week high of $50.15. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $44.59 and its two-hundred day moving average is $44.44.

Parsons Profile

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Parsons Corp. provides engineering, design, planning, and construction management services. It offers solutions for commercial, federal, transportation, and water resources. It delivers engineering, construction, systems and resource integration, project and program management, and environmental services to customers.

Nuveen Asset Management LLC Increases Position in Parsons Co. (NYSE:PSN)

Wall Street Analysts Forecast Growth

Parsons Price Performance

Parsons Profile

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