Parsons Co. (NYSE:PSN) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its position in Parsons Co. (NYSE:PSN - Free Report) by 2.3% 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 1,189,811 shares of the company's stock after acquiring an additional 26,230 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.12% of Parsons worth $109,762,000 as of its most recent SEC filing.

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

Parsons Stock Performance

NYSE PSN traded down $1.91 on Wednesday, reaching $66.75. The stock had a trading volume of 3,242,209 shares, compared to its average volume of 1,103,597. The stock has a market cap of $7.13 billion, a P/E ratio of 87.83, a price-to-earnings-growth ratio of 0.93 and a beta of 0.66. The business's 50-day moving average price is $61.11 and its 200 day moving average price is $82.77. 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 Co. has a 12-month low of $54.56 and a 12-month high of $114.68.

Parsons declared that its Board of Directors has initiated a stock buyback 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 generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PSN has been the subject of several recent research reports. The Goldman Sachs Group decreased their price objective on Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. William Blair upgraded shares of Parsons from a "market perform" rating to an "outperform" rating in a report on Tuesday, February 18th. Bank of America reduced their price objective on shares of Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Robert W. Baird lowered their target price on shares of Parsons from $125.00 to $78.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Finally, Jefferies Financial Group cut their price target on Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Parsons has a consensus rating of "Moderate Buy" and an average target price of $93.60.

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.