UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in Parsons Co. (NYSE:PSN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Parsons Co. (NYSE:PSN - Free Report) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 250,625 shares of the company's stock after selling 3,795 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.24% of Parsons worth $23,120,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PSN. Artisan Partners Limited Partnership increased its position in shares of Parsons by 271.6% in the fourth 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Parsons during the 4th quarter worth about $63,417,000. Norges Bank bought a new stake in Parsons in the fourth quarter worth about $59,447,000. Freestone Grove Partners LP acquired a new position in Parsons in the fourth quarter worth approximately $40,318,000. Finally, FIL Ltd acquired a new position in Parsons in the fourth quarter worth approximately $27,868,000. Hedge funds and other institutional investors own 98.02% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group reaffirmed 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. The Goldman Sachs Group decreased their price target on shares of Parsons from $109.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. KeyCorp reduced their price objective on shares of Parsons from $76.00 to $73.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. TD Cowen lowered shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 target price on the stock. in a report on Friday, February 21st. Finally, Bank of America dropped their price objective 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. Five research 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 stock has an average rating of "Moderate Buy" and a consensus target price of $90.20.

Parsons Price Performance

PSN traded down $1.07 during trading on Friday, reaching $64.87. 2,330,624 shares of the company traded hands, compared to its average volume of 1,162,000. 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 $6.93 billion, a P/E ratio of 85.36, a PEG ratio of 0.93 and a beta of 0.57. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68. The firm has a fifty day simple moving average of $64.29 and a 200 day simple moving average of $75.75.

Parsons declared that its Board of Directors has initiated a share buyback plan on Monday, March 24th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

About Parsons

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.