Parsons Co. (NYSE:PSN) Stake Boosted by Martingale Asset Management L P

Martingale Asset Management L P boosted its stake in Parsons Co. (NYSE:PSN) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,718 shares of the company’s stock after buying an additional 2,670 shares during the period. Martingale Asset Management L P’s holdings in Parsons were worth $2,188,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSN. CIBC Private Wealth Group LLC bought a new stake in Parsons in the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in Parsons during the fourth quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Parsons during the fourth quarter worth $26,000. Huntington National Bank lifted its holdings in shares of Parsons by 28,900.0% during the 4th quarter. Huntington National Bank now owns 290 shares of the company’s stock valued at $27,000 after buying an additional 289 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Parsons by 224.7% during the 4th 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. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 18th. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Benchmark reaffirmed a “buy” rating and set a $90.00 price objective on shares of Parsons in a research note on Wednesday, February 26th. TD Cowen downgraded shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a research note on Friday, February 21st. Finally, Robert W. Baird dropped their price objective on Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

Parsons Price Performance

NYSE:PSN opened at $63.28 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $63.28 and its two-hundred day moving average price is $86.35. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 83.26, a P/E/G ratio of 0.93 and a beta of 0.66.

Parsons announced that its board has authorized a stock buyback program on Monday, March 24th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership 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.