State of Wyoming increased its holdings in shares of Parsons Co. (NYSE:PSN - Free Report) by 398.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,239 shares of the company's stock after purchasing an additional 4,187 shares during the period. State of Wyoming's holdings in Parsons were worth $483,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of PSN. Vanguard Group Inc. boosted its stake in shares of Parsons by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company's stock worth $422,093,000 after buying an additional 59,545 shares during the period. Artisan Partners Limited Partnership lifted its position in Parsons by 271.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company's stock worth $190,932,000 after acquiring an additional 1,512,812 shares during the period. Invesco Ltd. grew its stake in shares of Parsons by 14.2% in the 4th 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 increased its holdings in shares of Parsons by 2.3% in 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 during the period. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Parsons by 5.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,069,175 shares of the company's stock valued at $98,631,000 after purchasing an additional 52,522 shares during the period. 98.02% of the stock is owned by hedge funds and other institutional investors.
Parsons Stock Down 0.8%
PSN opened at $68.46 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 90.08, a PEG ratio of 0.93 and a beta of 0.57. Parsons Co. has a one year low of $54.56 and a one year high of $114.68. The business's fifty day moving average is $62.99 and its two-hundred day moving average is $78.49.
Parsons declared that its board has authorized a stock buyback plan on Monday, March 24th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on PSN. KeyCorp lowered their price objective on shares of Parsons from $76.00 to $73.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $65.00 target price (down previously from $75.00) on shares of Parsons in a report on Monday, May 5th. TD Cowen lowered shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 price target on the stock. in a research note on Friday, February 21st. Benchmark reissued a "buy" rating and set a $90.00 price target on shares of Parsons in a report on Wednesday, February 26th. Finally, Bank of America lowered their price objective on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $90.20.
Read Our Latest Stock Report on Parsons
About Parsons
(
Free Report)
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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