Voya Investment Management LLC Has $36.93 Million Stock Holdings in Parsons Co. (NYSE:PSN)

Voya Investment Management LLC raised its position in Parsons Co. (NYSE:PSN - Free Report) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400,289 shares of the company's stock after purchasing an additional 9,587 shares during the quarter. Voya Investment Management LLC owned 0.38% of Parsons worth $36,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC acquired a new stake in shares of Parsons in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parsons in the 4th quarter valued at about $25,000. ORG Wealth Partners LLC bought a new position in shares of Parsons in the 4th quarter valued at about $26,000. Huntington National Bank grew its holdings in shares of 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. Finally, GAMMA Investing LLC grew its holdings in shares of Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company's stock valued at $29,000 after acquiring an additional 218 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PSN. KeyCorp decreased their price objective on Parsons from $76.00 to $73.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Jefferies Financial Group reduced their price target on Parsons from $110.00 to $100.00 and set a "buy" rating for the company in a report on Friday, January 24th. TD Cowen cut Parsons from a "buy" rating to a "hold" rating and set a $105.00 price target for the company. in a report on Friday, February 21st. Robert W. Baird reduced their price target on Parsons from $125.00 to $78.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Finally, Truist Financial reduced their price objective on Parsons from $85.00 to $70.00 and set a "buy" rating for the company in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.60.

Parsons Price Performance

NYSE:PSN traded down $1.91 during trading hours on Wednesday, hitting $66.75. The company's stock had a trading volume of 2,781,006 shares, compared to its average volume of 1,103,596. The stock has a fifty day simple moving average of $61.11 and a 200-day simple moving average of $82.77. The company has a market capitalization of $7.13 billion, a P/E ratio of 87.83, a PEG ratio of 0.93 and a beta of 0.66. 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 Co. has a twelve month low of $54.56 and a twelve month 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 repurchase 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.

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.