State of Wyoming Raises Stake in Parsons Co. (NYSE:PSN)

State of Wyoming lifted its stake in Parsons Co. (NYSE:PSN - Free Report) by 398.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,239 shares of the company's stock after purchasing an additional 4,187 shares during the quarter. State of Wyoming's holdings in Parsons were worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Parsons by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company's stock valued at $422,093,000 after purchasing an additional 59,545 shares in the last quarter. Artisan Partners Limited Partnership raised its position 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 buying an additional 1,512,812 shares during the last quarter. Invesco Ltd. raised its position in shares of Parsons by 14.2% during the fourth quarter. Invesco Ltd. now owns 2,056,390 shares of the company's stock valued at $189,702,000 after buying an additional 255,810 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 buying an additional 26,230 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position 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 valued at $98,631,000 after buying an additional 52,522 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Trading Down 2.5%

PSN stock traded down $1.67 during mid-day trading on Friday, reaching $66.24. 1,343,445 shares of the stock traded hands, compared to its average volume of 1,150,301. 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 one year low of $54.56 and a one year high of $114.68. The stock has a market capitalization of $7.08 billion, a PE ratio of 87.16, a PEG ratio of 0.93 and a beta of 0.57. The business has a 50-day moving average price of $63.70 and a two-hundred day moving average price of $77.52.

Parsons declared that its board has authorized a share buyback plan on Monday, March 24th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

PSN has been the topic of several recent analyst reports. TD Cowen cut shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 price objective on the stock. in a research report on Friday, February 21st. William Blair upgraded shares of Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. Jefferies Financial Group restated a "hold" rating and issued a $65.00 price target (down previously from $75.00) on shares of Parsons in a research report on Monday, May 5th. Robert W. Baird cut shares of Parsons from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $72.00 to $69.00 in a research report on Thursday, May 1st. Finally, Baird R W cut shares of Parsons from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Parsons has a consensus rating of "Moderate Buy" and a consensus target price of $90.20.

Parsons Company 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.