Two Sigma Advisers LP Buys 21,855 Shares of Parsons Co. (NYSE:PSN)

Two Sigma Advisers LP boosted its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 178,500 shares of the company's stock after acquiring an additional 21,855 shares during the quarter. Two Sigma Advisers LP owned approximately 0.17% of Parsons worth $16,467,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Parsons by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company's stock worth $422,093,000 after acquiring an additional 59,545 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings 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 last quarter. Invesco Ltd. grew its holdings in Parsons by 14.2% during the 4th quarter. Invesco Ltd. now owns 2,056,390 shares of the company's stock worth $189,702,000 after acquiring an additional 255,810 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Parsons by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,189,811 shares of the company's stock worth $109,762,000 after acquiring an additional 26,230 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Parsons by 5.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,069,175 shares of the company's stock worth $98,631,000 after acquiring an additional 52,522 shares during the last quarter. Institutional investors own 98.02% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PSN shares. Bank of America lowered their price target on shares of Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Robert W. Baird cut shares of Parsons from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $72.00 to $69.00 in a research report on Thursday, May 1st. The Goldman Sachs Group lowered their price target on shares of Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. TD Cowen cut shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 price target for the company. in a research report on Friday, February 21st. Finally, KeyCorp lowered their price target on shares of Parsons from $76.00 to $73.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Parsons has a consensus rating of "Moderate Buy" and a consensus target price of $90.20.

Parsons Trading Down 2.5%

Parsons stock traded down $1.67 during midday trading on Friday, hitting $66.24. 1,343,445 shares of the stock were exchanged, compared to its average volume of 1,150,301. The company has a fifty day simple moving average of $63.70 and a two-hundred day simple moving average of $77.75. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68. The stock has a market capitalization of $7.08 billion, a PE ratio of 87.16, a P/E/G ratio of 0.93 and a beta of 0.57. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Parsons declared that its board has authorized a stock repurchase program on Monday, March 24th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors 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.