Aquatic Capital Management LLC Acquires New Stake in Parsons Co. (NYSE:PSN)

Aquatic Capital Management LLC acquired a new position in shares of Parsons Co. (NYSE:PSN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 66,499 shares of the company's stock, valued at approximately $6,135,000. Aquatic Capital Management LLC owned approximately 0.06% of Parsons as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Private Wealth Group LLC bought a new stake in shares of Parsons during the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parsons during the 4th quarter worth about $25,000. ORG Wealth Partners LLC bought a new stake in shares of Parsons during the 4th quarter worth about $26,000. Huntington National Bank boosted its holdings in shares of Parsons by 28,900.0% during the 4th quarter. Huntington National Bank now owns 290 shares of the company's stock worth $27,000 after buying an additional 289 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Parsons by 224.7% during the 4th 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. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSN has been the subject of several research analyst reports. Jefferies Financial Group reduced their target price on shares of Parsons from $110.00 to $100.00 and set a "buy" rating for the company in a report on Friday, January 24th. Robert W. Baird dropped their target price on shares of Parsons from $125.00 to $78.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Raymond James cut shares of Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Truist Financial lowered their price objective on shares of Parsons from $85.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, William Blair upgraded shares of Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.60.

Parsons Stock Down 2.8 %

PSN stock traded down $1.91 during mid-day trading on Wednesday, reaching $66.75. 3,242,209 shares of the company traded hands, compared to its average volume of 1,104,825. Parsons Co. has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The firm's 50 day moving average price is $61.11 and its 200 day moving average price is $82.77. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 87.83, a P/E/G ratio of 0.93 and a beta of 0.66. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Parsons declared that its Board of Directors has authorized a share repurchase program on Monday, March 24th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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.