Northern Trust Corp Has $33.54 Million Stock Holdings in Parsons Co. (NYSE:PSN)

Northern Trust Corp boosted its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 363,551 shares of the company's stock after acquiring an additional 47,698 shares during the quarter. Northern Trust Corp owned 0.34% of Parsons worth $33,538,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC acquired a new position in Parsons during the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd acquired a new position in Parsons in the fourth quarter worth $25,000. ORG Wealth Partners LLC acquired a new position in Parsons in the fourth quarter worth $26,000. Huntington National Bank boosted its stake in Parsons by 28,900.0% in 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. Finally, GAMMA Investing LLC boosted its stake in 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 in the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Truist Financial reissued a "buy" rating and issued a $80.00 price objective (up previously from $70.00) on shares of Parsons in a research note on Thursday, May 1st. KeyCorp cut their price target on Parsons from $76.00 to $73.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. 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. Robert W. Baird lowered Parsons from an "outperform" rating to a "neutral" rating and cut their price target for the company from $72.00 to $69.00 in a research note on Thursday, May 1st. Finally, Baird R W lowered Parsons from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.20.

Parsons Trading Up 0.3%

Shares of Parsons stock traded up $0.22 during trading hours on Friday, hitting $68.47. The company's stock had a trading volume of 300,248 shares, compared to its average volume of 1,135,028. Parsons Co. has a 12 month low of $54.56 and a 12 month high of $114.68. The stock has a 50 day moving average of $62.54 and a 200 day moving average of $79.44. The company has a market capitalization of $7.32 billion, a PE ratio of 90.18, a price-to-earnings-growth 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.

Parsons announced that its board has initiated a share buyback plan on Monday, March 24th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are 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.