Parsons Co. (NYSE:PSN) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Parsons Co. (NYSE:PSN) by 1.3% in the fourth quarter, Holdings Channel reports. The firm owned 4,575,535 shares of the company’s stock after purchasing an additional 59,545 shares during the period. Vanguard Group Inc.’s holdings in Parsons were worth $422,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. LPL Financial LLC grew its stake in Parsons by 64.5% during the 4th quarter. LPL Financial LLC now owns 84,990 shares of the company’s stock valued at $7,840,000 after purchasing an additional 33,312 shares during the last quarter. Optimum Investment Advisors boosted its position in Parsons by 50.0% in the fourth quarter. Optimum Investment Advisors now owns 2,100 shares of the company’s stock valued at $194,000 after buying an additional 700 shares during the last quarter. Fox Run Management L.L.C. increased its holdings in Parsons by 430.7% in the 4th quarter. Fox Run Management L.L.C. now owns 17,884 shares of the company’s stock worth $1,650,000 after buying an additional 14,514 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Parsons during the 4th quarter worth approximately $932,000. Finally, Sei Investments Co. raised its position in Parsons by 12.4% during the 4th quarter. Sei Investments Co. now owns 262,285 shares of the company’s stock worth $24,196,000 after buying an additional 29,025 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Stock Up 6.3 %

Parsons stock opened at $63.31 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The stock has a market capitalization of $6.76 billion, a PE ratio of 83.30, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The business has a 50 day simple moving average of $66.51 and a 200-day simple moving average of $88.42. Parsons Co. has a 12 month low of $54.56 and a 12 month high of $114.68.

Parsons declared that its board has authorized a share buyback program on Monday, March 24th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Benchmark reiterated a “buy” rating and set a $90.00 price objective on shares of Parsons in a research note on Wednesday, February 26th. KeyCorp decreased their price objective on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, The Goldman Sachs Group decreased their price target on Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.50.

Parsons Profile

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.