SG Americas Securities LLC Purchases Shares of 209,879 Parsons Co. (NYSE:PSN)

SG Americas Securities LLC bought a new stake in Parsons Co. (NYSE:PSN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 209,879 shares of the company's stock, valued at approximately $12,427,000. SG Americas Securities LLC owned 0.20% of Parsons at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PSN. CIBC Private Wealth Group LLC bought a new stake in shares of Parsons during the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new position in Parsons in the 4th quarter worth approximately $25,000. Huntington National Bank raised its holdings in Parsons by 28,900.0% in the 4th quarter. Huntington National Bank now owns 290 shares of the company's stock valued at $27,000 after acquiring an additional 289 shares in the last quarter. Quarry LP acquired a new stake in Parsons during the fourth quarter valued at approximately $30,000. Finally, Principal Securities Inc. bought a new stake in Parsons during the fourth quarter worth about $33,000. 98.02% of the stock is currently owned by institutional investors.

Parsons Trading Up 1.1%

PSN traded up $0.74 during midday trading on Thursday, hitting $70.43. 773,167 shares of the company were exchanged, compared to its average volume of 1,194,105. The firm has a market capitalization of $7.53 billion, a P/E ratio of 92.67, a P/E/G ratio of 0.93 and a beta of 0.53. The firm's 50 day moving average price is $65.55 and its 200-day moving average price is $74.47. 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 Co. has a 1-year low of $54.56 and a 1-year high of $114.68.

Parsons announced that its Board of Directors has approved 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 shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PSN. Benchmark reissued a "buy" rating and set a $90.00 price objective on shares of Parsons in a report on Wednesday, February 26th. Truist Financial reiterated a "buy" rating and set a $80.00 price objective (up previously from $70.00) on shares of Parsons in a research note on Thursday, May 1st. Baird R W lowered shares of Parsons from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. KeyCorp cut their price objective on shares of Parsons from $76.00 to $73.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, William Blair raised Parsons from a "market perform" rating to an "outperform" rating in a report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $86.90.

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.