Parsons Co. (NYSE:PSN) Holdings Increased by Two Sigma Investments LP

Two Sigma Investments LP lifted its stake in Parsons Co. (NYSE:PSN - Free Report) by 118.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 443,986 shares of the company's stock after acquiring an additional 240,803 shares during the period. Two Sigma Investments LP owned 0.42% of Parsons worth $40,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PSN. CIBC Private Wealth Group LLC purchased a new stake in shares of Parsons during the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parsons during the 4th quarter worth about $25,000. Huntington National Bank lifted its stake in Parsons by 28,900.0% during the fourth quarter. Huntington National Bank now owns 290 shares of the company's stock valued at $27,000 after buying an additional 289 shares in the last quarter. Quarry LP purchased a new stake in Parsons during the fourth quarter valued at about $30,000. Finally, Principal Securities Inc. acquired a new position in shares of Parsons in the fourth quarter worth about $33,000. 98.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PSN shares. Bank of America cut their price target 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. Truist Financial restated a "buy" rating and issued a $80.00 target price (up previously from $70.00) on shares of Parsons in a report on Thursday, May 1st. Benchmark reiterated a "buy" rating and set a $90.00 price target on shares of Parsons in a report on Wednesday, February 26th. Robert W. Baird lowered Parsons from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $72.00 to $69.00 in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group reduced 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. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.20.

Parsons Stock Down 0.2%

Shares of NYSE PSN opened at $68.28 on Wednesday. Parsons Co. has a 1 year low of $54.56 and a 1 year high of $114.68. The firm's 50-day moving average is $63.22 and its 200-day moving average is $78.42. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $7.30 billion, a PE ratio of 89.84, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57.

Parsons announced that its board has approved a share buyback plan on Monday, March 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication 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.

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