Graham Capital Management L.P. Raises Stock Position in Parsons Co. (NYSE:PSN)

Graham Capital Management L.P. boosted its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 417.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,193 shares of the company's stock after acquiring an additional 8,225 shares during the period. Graham Capital Management L.P.'s holdings in Parsons were worth $940,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC purchased a new position in Parsons during the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parsons in the 4th quarter worth $25,000. Huntington National Bank grew its stake in shares of Parsons by 28,900.0% in the 4th quarter. Huntington National Bank now owns 290 shares of the company's stock worth $27,000 after buying an additional 289 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company's stock worth $29,000 after buying an additional 218 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Parsons in the 4th quarter worth $30,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Stock Up 1.1%

Shares of NYSE:PSN traded up $0.78 during trading hours on Friday, hitting $69.03. The company's stock had a trading volume of 1,324,106 shares, compared to its average volume of 1,140,474. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 90.83, a P/E/G ratio of 0.93 and a beta of 0.57. The firm's fifty day moving average price is $62.77 and its 200 day moving average price is $79.19.

Parsons announced that its board has approved a stock repurchase plan on Monday, March 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

PSN has been the subject of a number of recent research reports. KeyCorp dropped their price objective on shares of Parsons from $76.00 to $73.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Baird R W cut shares of Parsons from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. 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 note on Friday, February 21st. William Blair raised shares of Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group dropped their price target on shares of Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. 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, Parsons presently has an average rating of "Moderate Buy" and a consensus target price of $90.20.

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.