Parsons Co. (NYSE:PSN) Shares Bought by Xponance Inc.

Xponance Inc. grew its holdings in Parsons Co. (NYSE:PSN) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,254 shares of the company’s stock after purchasing an additional 250 shares during the quarter. Xponance Inc.’s holdings in Parsons were worth $485,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norden Group LLC acquired a new position in Parsons in the 4th quarter valued at about $499,000. Wolverine Asset Management LLC acquired a new position in shares of Parsons in the fourth quarter valued at approximately $577,000. Geode Capital Management LLC lifted its stake in shares of Parsons by 14.0% during the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after buying an additional 95,040 shares during the period. Truist Financial Corp boosted its position in Parsons by 12.5% during the fourth quarter. Truist Financial Corp now owns 45,253 shares of the company’s stock worth $4,175,000 after acquiring an additional 5,032 shares during the last quarter. Finally, Ieq Capital LLC grew its stake in Parsons by 676.6% in the 4th quarter. Ieq Capital LLC now owns 19,019 shares of the company’s stock worth $1,755,000 after acquiring an additional 16,570 shares during the period. 98.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PSN shares. Robert W. Baird reduced their price target on Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Benchmark reissued a “buy” rating and issued a $90.00 price target on shares of Parsons in a research note on Wednesday, February 26th. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, Jefferies Financial Group dropped their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.44.

Parsons Trading Down 0.6 %

Shares of PSN opened at $61.17 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. Parsons Co. has a one year low of $54.56 and a one year high of $114.68. The stock has a 50-day moving average price of $70.00 and a 200 day moving average price of $89.66. The company has a market capitalization of $6.53 billion, a P/E ratio of 80.49, a P/E/G ratio of 0.93 and a beta of 0.78.

Parsons announced that its Board of Directors has initiated a share repurchase 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management 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.