Nomura Holdings Inc. Raises Position in Parsons Co. (NYSE:PSN)

Nomura Holdings Inc. grew its position in shares of Parsons Co. (NYSE:PSN - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,861 shares of the company's stock after buying an additional 6,398 shares during the quarter. Nomura Holdings Inc. owned 0.15% of Parsons worth $14,470,000 as of its most recent filing with the Securities & Exchange Commission.

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

Parsons Stock Performance

Shares of PSN stock traded up $0.16 during trading hours on Tuesday, reaching $68.57. 247,107 shares of the company traded hands, compared to its average volume of 1,138,919. The company has a market cap of $7.33 billion, a P/E ratio of 90.28, a P/E/G ratio of 0.93 and a beta of 0.57. 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 firm has a 50-day moving average price of $62.99 and a 200 day moving average price of $78.49. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68.

Parsons declared that its board has initiated a share buyback program on Monday, March 24th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PSN shares. Bank of America lowered their price target on shares of Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. William Blair raised Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. TD Cowen lowered shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 price objective for the company. in a research note on Friday, February 21st. KeyCorp cut their price target on shares of Parsons from $76.00 to $73.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Robert W. Baird lowered shares of Parsons from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $72.00 to $69.00 in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.