LPL Financial LLC Buys 33,312 Shares of Parsons Co. (NYSE:PSN)

LPL Financial LLC grew its position in shares of Parsons Co. (NYSE:PSN - Free Report) by 64.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 84,990 shares of the company's stock after purchasing an additional 33,312 shares during the quarter. LPL Financial LLC owned 0.08% of Parsons worth $7,840,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in Parsons during the fourth quarter worth about $26,000. GAMMA Investing LLC grew 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 worth $29,000 after purchasing an additional 218 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Parsons in the 4th quarter worth approximately $33,000. R Squared Ltd acquired a new stake in Parsons during the fourth quarter valued at approximately $38,000. Finally, Blue Trust Inc. boosted its holdings in Parsons by 28.7% during the fourth quarter. Blue Trust Inc. now owns 1,340 shares of the company's stock worth $124,000 after buying an additional 299 shares in the last quarter. Institutional investors own 98.02% of the company's stock.

Parsons Stock Up 0.2 %

PSN stock traded up $0.13 during midday trading on Thursday, reaching $63.28. The company had a trading volume of 1,527,070 shares, compared to its average volume of 1,058,939. The company has a 50 day moving average of $63.28 and a two-hundred day moving average of $86.35. The company has a market capitalization of $6.76 billion, a P/E ratio of 83.26, a PEG ratio of 0.93 and a beta of 0.66. Parsons Co. has a 1 year low of $54.56 and a 1 year 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 announced that its board has initiated a share repurchase plan on Monday, March 24th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

PSN has been the subject of a number of recent research reports. William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. Benchmark reaffirmed a "buy" rating and set a $90.00 target price on shares of Parsons in a report on Wednesday, February 26th. The Goldman Sachs Group dropped their price target on Parsons from $109.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Raymond James lowered shares of Parsons from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. Finally, Jefferies Financial Group dropped their target price on shares of 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $100.50.

About Parsons

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.