Invesco Ltd. Has $189.70 Million Stock Position in Parsons Co. (NYSE:PSN)

Invesco Ltd. lifted its holdings in shares of Parsons Co. (NYSE:PSN - Free Report) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,056,390 shares of the company's stock after buying an additional 255,810 shares during the period. Invesco Ltd. owned approximately 1.94% of Parsons worth $189,702,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC bought a new stake in shares of Parsons during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parsons in the fourth quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in Parsons during the fourth quarter worth $26,000. Huntington National Bank increased its holdings in shares of Parsons by 28,900.0% during the fourth quarter. Huntington National Bank now owns 290 shares of the company's stock valued at $27,000 after acquiring an additional 289 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Parsons by 224.7% in the fourth 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. Institutional investors own 98.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PSN shares. Raymond James cut Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Truist Financial cut their price objective on Parsons from $85.00 to $70.00 and set a "buy" rating for the company in a research report on Monday. Robert W. Baird decreased 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. William Blair raised shares of Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group reduced their price target on Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.60.

Parsons Stock Performance

Shares of NYSE:PSN traded up $1.01 during trading on Thursday, reaching $65.54. 370,302 shares of the company's stock traded hands, compared to its average volume of 1,065,557. The stock has a market capitalization of $7.00 billion, a P/E ratio of 86.29, a price-to-earnings-growth ratio of 0.93 and a beta of 0.66. The company has a 50 day moving average of $62.24 and a 200-day moving average of $85.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. Parsons Co. has a 12 month low of $54.56 and a 12 month high of $114.68.

Parsons declared that its board has initiated a stock buyback program 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 programs are typically an indication that the company's board 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.