Axa S.A. Buys 63,215 Shares of Parsons Co. (NYSE:PSN)

AXA S.A. raised its position in Parsons Co. (NYSE:PSN - Free Report) by 539.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 74,926 shares of the company's stock after acquiring an additional 63,215 shares during the period. AXA S.A. owned about 0.07% of Parsons worth $6,912,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Parsons by 0.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,207 shares of the company's stock worth $1,311,000 after acquiring an additional 131 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Parsons by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,287 shares of the company's stock valued at $303,000 after buying an additional 163 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Parsons by 0.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 32,126 shares of the company's stock valued at $2,964,000 after buying an additional 191 shares in the last quarter. GAMMA Investing LLC increased its holdings in Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company's stock worth $29,000 after buying an additional 218 shares during the last quarter. Finally, Xponance Inc. raised its position in Parsons by 5.0% during the fourth quarter. Xponance Inc. now owns 5,254 shares of the company's stock worth $485,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company's stock.

Parsons Price Performance

Shares of PSN stock traded down $0.07 during trading hours on Friday, reaching $63.97. The company's stock had a trading volume of 771,218 shares, compared to its average volume of 1,120,379. Parsons Co. has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The firm's 50 day simple moving average is $61.93 and its 200-day simple moving average is $80.49. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 84.17, a PEG ratio of 0.93 and a beta of 0.57.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on PSN shares. Baird R W lowered shares of Parsons from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Truist Financial reissued a "buy" rating and set a $80.00 price target (up previously from $70.00) on shares of Parsons in a research report on Thursday, May 1st. Jefferies Financial Group reaffirmed a "hold" rating and issued a $65.00 price objective (down from $75.00) on shares of Parsons in a research report on Monday, May 5th. Benchmark reissued a "buy" rating and set a $90.00 target price on shares of Parsons in a report on Wednesday, February 26th. Finally, Robert W. Baird downgraded Parsons from an "outperform" rating to a "neutral" rating and cut their price target for the company from $72.00 to $69.00 in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.