BNP Paribas Has $2.06 Million Position in Parsons Co. (NYSE:PSN)

BNP Paribas lifted its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 321.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,229 shares of the company's stock after purchasing an additional 16,951 shares during the period. BNP Paribas' holdings in Parsons were worth $2,055,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in Parsons by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company's stock valued at $422,093,000 after buying an additional 59,545 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Parsons by 271.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company's stock valued at $190,932,000 after acquiring an additional 1,512,812 shares during the period. Invesco Ltd. boosted its holdings in Parsons by 14.2% in the fourth quarter. Invesco Ltd. now owns 2,056,390 shares of the company's stock valued at $189,702,000 after acquiring an additional 255,810 shares during the last quarter. Principal Financial Group Inc. increased its position in Parsons by 18.1% in the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock worth $123,685,000 after purchasing an additional 183,117 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Parsons by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,189,811 shares of the company's stock worth $109,762,000 after purchasing an additional 26,230 shares during the last quarter. 98.02% of the stock is owned by institutional investors.

Parsons Stock Up 0.4 %

NYSE:PSN traded up $0.25 on Wednesday, hitting $62.96. 906,124 shares of the company's stock were exchanged, compared to its average volume of 1,119,610. The firm has a 50-day moving average price of $61.53 and a 200-day moving average price of $81.22. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68. 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 company has a market cap of $6.73 billion, a P/E ratio of 82.84, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57.

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

Wall Street Analysts Forecast Growth

PSN has been the subject of several analyst reports. Robert W. Baird cut shares of Parsons from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $72.00 to $69.00 in a research report on Thursday, May 1st. William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a report on Tuesday, February 18th. Truist Financial restated a "buy" rating and set a $80.00 target price (up previously from $70.00) on shares of Parsons in a report on Thursday, May 1st. Jefferies Financial Group reissued a "hold" rating and set a $65.00 price objective (down previously from $75.00) on shares of Parsons in a research note on Monday. Finally, TD Cowen downgraded shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 target price for the company. in a research note on Friday, February 21st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.20.

About Parsons

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.