Fox Run Management L.L.C. Acquires 14,514 Shares of Parsons Co. (NYSE:PSN)

Fox Run Management L.L.C. grew its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 430.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,884 shares of the company's stock after buying an additional 14,514 shares during the quarter. Fox Run Management L.L.C.'s holdings in Parsons were worth $1,650,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in Parsons in the 4th quarter valued at approximately $26,000. GAMMA Investing LLC grew its position 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 buying an additional 218 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Parsons in the third quarter valued at about $30,000. Principal Securities Inc. acquired a new position in shares of Parsons in the fourth quarter worth approximately $33,000. Finally, R Squared Ltd acquired a new position in shares of Parsons in the 4th quarter worth approximately $38,000. 98.02% of the stock is currently owned by institutional investors.

Parsons Stock Performance

Shares of Parsons stock traded up $1.31 during trading hours on Tuesday, hitting $61.77. 320,129 shares of the company's stock traded hands, compared to its average volume of 1,020,339. The company has a fifty day simple moving average of $71.34 and a 200-day simple moving average of $90.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 81.27, a PEG ratio of 0.93 and a beta of 0.78. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68.

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Parsons announced that its board has approved a share repurchase program on Monday, March 24th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

PSN has been the topic of several research analyst reports. Robert W. Baird cut their target price on shares of Parsons from $125.00 to $78.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Jefferies Financial Group decreased their price target on shares of Parsons from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, January 24th. KeyCorp dropped their price objective on shares of Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Benchmark reissued a "buy" rating and set a $90.00 target price on shares of Parsons in a research report on Wednesday, February 26th. Finally, William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.44.

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.