Pullen Investment Management LLC Grows Stock Holdings in Parsons Co. (NYSE:PSN)

Pullen Investment Management LLC increased its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 46.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,133 shares of the company's stock after purchasing an additional 5,438 shares during the quarter. Pullen Investment Management LLC's holdings in Parsons were worth $1,581,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Parsons by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company's stock valued at $422,093,000 after acquiring an additional 59,545 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Parsons by 271.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company's stock valued at $190,932,000 after purchasing an additional 1,512,812 shares during the last quarter. Invesco Ltd. raised its holdings 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Parsons by 2.3% in the 4th 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 in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in shares of 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 purchasing an additional 52,522 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company's stock.

Analyst Ratings Changes

PSN has been the topic of a number of analyst reports. Bank of America cut their price target on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. KeyCorp decreased their target price on Parsons from $76.00 to $73.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Benchmark reissued a "buy" rating and set a $90.00 price objective on shares of Parsons in a report on Wednesday, February 26th. Jefferies Financial Group restated 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. Finally, Robert W. Baird lowered shares of Parsons from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $72.00 to $69.00 in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.20.

Parsons Stock Performance

Shares of Parsons stock traded down $1.89 during trading hours on Friday, hitting $64.05. 1,245,738 shares of the company were exchanged, compared to its average volume of 1,156,288. 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 business has a 50-day moving average of $64.23 and a 200-day moving average of $76.50. Parsons Co. has a 1 year low of $54.56 and a 1 year high of $114.68. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 84.28, a P/E/G ratio of 0.93 and a beta of 0.57.

Parsons declared that its Board of Directors has initiated a share 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 purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

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.