Algert Global LLC Acquires 11,053 Shares of Parsons Co. (NYSE:PSN)

Algert Global LLC lifted its position in Parsons Co. (NYSE:PSN - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,709 shares of the company's stock after acquiring an additional 11,053 shares during the quarter. Algert Global LLC owned approximately 0.15% of Parsons worth $14,825,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC purchased a new stake in Parsons in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parsons in the 4th quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Parsons during the fourth quarter valued at approximately $26,000. Huntington National Bank lifted its holdings in Parsons by 28,900.0% during the fourth quarter. Huntington National Bank now owns 290 shares of the company's stock worth $27,000 after acquiring an additional 289 shares during the period. Finally, GAMMA Investing LLC boosted its position in Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company's stock worth $29,000 after purchasing an additional 218 shares during the last quarter. Institutional investors own 98.02% of the company's stock.

Parsons Trading Up 0.4 %

Shares of NYSE PSN traded up $0.25 during midday trading on Wednesday, hitting $62.96. 906,124 shares of the company traded hands, compared to its average volume of 1,119,610. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68. The firm has a market cap of $6.73 billion, a P/E ratio of 82.84, a P/E/G ratio of 0.93 and a beta of 0.57. The stock has a 50-day moving average price of $61.53 and a 200 day moving average price of $81.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29.

Parsons declared that its board has approved a share buyback plan on Monday, March 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PSN has been the topic of a number of research analyst reports. Benchmark reiterated a "buy" rating and issued a $90.00 target price on shares of Parsons in a research note on Wednesday, February 26th. Jefferies Financial Group reaffirmed a "hold" rating and set a $65.00 price objective (down from $75.00) on shares of Parsons in a report on Monday. Baird R W downgraded shares of Parsons from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Truist Financial restated a "buy" rating and set a $80.00 price target (up from $70.00) on shares of Parsons in a research note on Thursday, May 1st. Finally, William Blair upgraded shares of Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $90.20.

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. 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.