Parsons Co. (NYSE:PSN) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC grew its holdings in shares of Parsons Co. (NYSE:PSN - Free Report) by 212.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,935 shares of the company's stock after acquiring an additional 93,746 shares during the period. Janus Henderson Group PLC owned about 0.13% of Parsons worth $12,737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PSN. CIBC Private Wealth Group LLC bought a new stake in shares of Parsons in the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parsons in the fourth quarter valued at about $25,000. Huntington National Bank raised its stake in Parsons by 28,900.0% during the fourth quarter. Huntington National Bank now owns 290 shares of the company's stock valued at $27,000 after buying 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 position in Parsons during the 4th quarter worth approximately $33,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. KeyCorp reduced their price objective on 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 downgraded shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 price target on the stock. in a research report on Friday, February 21st. Robert W. Baird downgraded shares of Parsons from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $72.00 to $69.00 in a research report on Thursday, May 1st. The Goldman Sachs Group dropped their price objective 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. Finally, Benchmark reaffirmed a "buy" rating and set a $90.00 target price on shares of Parsons in a report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Parsons currently has an average rating of "Moderate Buy" and a consensus target price of $90.20.

Parsons Stock Performance

Shares of NYSE PSN traded down $0.13 during midday trading on Tuesday, hitting $68.28. 921,909 shares of the company's stock were exchanged, compared to its average volume of 1,141,542. Parsons Co. has a twelve month low of $54.56 and a twelve month high of $114.68. The firm has a market cap of $7.30 billion, a P/E ratio of 89.84, a PEG ratio of 0.93 and a beta of 0.57. The stock's 50 day moving average price is $62.99 and its 200-day moving average price is $78.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55.

Parsons announced that its board has approved a share repurchase program on Monday, March 24th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are 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.