Sherbrooke Park Advisers LLC Takes $876,000 Position in Parsons Co. (NYSE:PSN)

Sherbrooke Park Advisers LLC bought a new position in shares of Parsons Co. (NYSE:PSN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,492 shares of the company's stock, valued at approximately $876,000.

Other institutional investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC purchased a new stake in Parsons during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parsons during the 4th quarter valued at about $25,000. Huntington National Bank grew its stake in shares of 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 acquiring an additional 289 shares during the period. Quarry LP purchased a new position in shares of Parsons in the fourth quarter worth approximately $30,000. Finally, Principal Securities Inc. purchased a new position in shares of Parsons in the fourth quarter worth approximately $33,000. Institutional investors own 98.02% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Cowen cut shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 price objective on the stock. in a research report on Friday, February 21st. Baird R W lowered shares of Parsons from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Jefferies Financial Group restated a "hold" rating and set a $65.00 price objective (down previously from $75.00) on shares of Parsons in a report on Monday, May 5th. The Goldman Sachs Group cut their price target on shares of Parsons from $109.00 to $98.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Finally, William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Parsons presently has an average rating of "Moderate Buy" and a consensus target price of $90.20.

Parsons Trading Up 1.1%

Shares of NYSE PSN traded up $0.78 during trading on Friday, hitting $69.03. 1,324,106 shares of the company were exchanged, compared to its average volume of 1,142,986. The company has a fifty day moving average price of $62.77 and a 200-day moving average price of $78.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. The firm has a market capitalization of $7.38 billion, a PE ratio of 90.83, a P/E/G ratio of 0.93 and a beta of 0.57. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68.

Parsons declared that its board has authorized a stock repurchase plan on Monday, March 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors 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.