Ethic Inc. Buys 4,352 Shares of Parsons Co. (NYSE:PSN)

Ethic Inc. raised its stake in Parsons Co. (NYSE:PSN - Free Report) by 141.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,427 shares of the company's stock after buying an additional 4,352 shares during the period. Ethic Inc.'s holdings in Parsons were worth $685,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Parsons by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company's stock valued at $422,093,000 after acquiring an additional 59,545 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Parsons by 271.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company's stock valued at $190,932,000 after purchasing an additional 1,512,812 shares during the last quarter. Invesco Ltd. raised its position 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 purchasing an additional 255,810 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Parsons by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,189,811 shares of the company's stock valued at $109,762,000 after purchasing an additional 26,230 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Parsons by 5.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,069,175 shares of the company's stock worth $98,631,000 after purchasing an additional 52,522 shares during the last quarter. Institutional investors own 98.02% of the company's stock.

Parsons Stock Up 2.0%

Shares of Parsons stock opened at $66.58 on Thursday. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 87.61, a PEG ratio of 0.93 and a beta of 0.57. The stock's 50-day moving average is $62.34 and its 200 day moving average is $79.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. Parsons Co. has a one year low of $54.56 and a one year high of $114.68.

Parsons announced that its board has authorized a stock repurchase plan on Monday, March 24th that authorizes the company to repurchase $250.00 million in 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.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Benchmark reiterated a "buy" rating and set a $90.00 target price on shares of Parsons in a research report on Wednesday, February 26th. KeyCorp cut their price target on shares of Parsons from $76.00 to $73.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group reissued a "hold" rating and issued a $65.00 price objective (down previously from $75.00) on shares of Parsons in a research note on Monday, May 5th. Bank of America decreased their price objective on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, William Blair raised Parsons from a "market perform" rating to an "outperform" rating in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $90.20.

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.

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