Parsons Co. (NYSE:PSN) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd increased its stake in shares of Parsons Co. (NYSE:PSN) by 254.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,177 shares of the company’s stock after buying an additional 9,462 shares during the quarter. XTX Topco Ltd’s holdings in Parsons were worth $1,216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Parsons by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company’s stock worth $422,093,000 after purchasing an additional 59,545 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Parsons by 271.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company’s stock valued at $190,932,000 after buying an additional 1,512,812 shares during the period. Invesco Ltd. increased its holdings in shares of Parsons by 14.2% during the 4th quarter. Invesco Ltd. now owns 2,056,390 shares of the company’s stock worth $189,702,000 after buying an additional 255,810 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Parsons by 18.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after buying an additional 183,117 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Parsons by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 778,892 shares of the company’s stock valued at $71,875,000 after acquiring an additional 6,084 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Trading Up 0.5 %

Shares of NYSE:PSN opened at $64.95 on Tuesday. The company has a market cap of $6.94 billion, a PE ratio of 85.46, a P/E/G ratio of 0.93 and a beta of 0.66. The company’s 50 day moving average is $62.76 and its two-hundred day moving average is $85.70. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31.

Parsons declared that its board has approved a share repurchase plan on Monday, March 24th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

PSN has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and set a $90.00 price target on shares of Parsons in a research report on Wednesday, February 26th. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Truist Financial dropped their price objective on Parsons from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Monday. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, TD Cowen lowered shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price target on the stock. in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.50.

Parsons 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.