Blair William & Co. IL Lowers Position in Parsons Co. (NYSE:PSN)

Blair William & Co. IL trimmed its stake in Parsons Co. (NYSE:PSN - Free Report) by 58.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,626 shares of the company's stock after selling 14,975 shares during the period. Blair William & Co. IL's holdings in Parsons were worth $980,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PSN. ORG Wealth Partners LLC bought a new stake in Parsons in the fourth quarter worth approximately $26,000. GAMMA Investing LLC increased its stake 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. Principal Securities Inc. bought a new position in Parsons during the fourth quarter worth $33,000. R Squared Ltd bought a new position in Parsons during the fourth quarter worth $38,000. Finally, Blue Trust Inc. grew its holdings in Parsons by 28.7% in the fourth quarter. Blue Trust Inc. now owns 1,340 shares of the company's stock worth $124,000 after purchasing an additional 299 shares during the period. 98.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Raymond James cut Parsons from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. William Blair upgraded shares of Parsons from a "market perform" rating to an "outperform" rating in a report on Tuesday, February 18th. Bank of America lowered their target price on shares of Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. The Goldman Sachs Group cut their price target on Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Finally, TD Cowen downgraded Parsons from a "buy" rating to a "hold" rating and set a $105.00 price objective for the company. in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.50.

Parsons Price Performance

PSN traded up $0.45 during trading on Tuesday, reaching $59.33. 1,769,216 shares of the company were exchanged, compared to its average volume of 1,050,985. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68. The company's 50-day moving average is $64.19 and its two-hundred day moving average is $87.05. 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 company has a market cap of $6.33 billion, a price-to-earnings ratio of 78.06, a P/E/G ratio of 0.93 and a beta of 0.66.

Parsons declared that its board has approved a share repurchase plan on Monday, March 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign 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.