Vanguard Group Inc. Has $422.09 Million Holdings in Parsons Co. (NYSE:PSN)

Vanguard Group Inc. increased its position in shares of Parsons Co. (NYSE:PSN - Free Report) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,575,535 shares of the company's stock after purchasing an additional 59,545 shares during the quarter. Vanguard Group Inc. owned approximately 4.31% of Parsons worth $422,093,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new stake in shares of Parsons during the fourth quarter worth approximately $26,000. GAMMA Investing LLC grew its holdings in shares of Parsons by 224.7% during 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. Principal Securities Inc. acquired a new stake in shares of Parsons in the fourth quarter valued at $33,000. R Squared Ltd bought a new position in shares of Parsons in the fourth quarter valued at about $38,000. Finally, Blue Trust Inc. lifted its position in Parsons by 28.7% during the 4th 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. 98.02% of the stock is owned by institutional investors.

Parsons Trading Down 0.0 %

Shares of Parsons stock traded down $0.01 during trading on Monday, hitting $58.87. 1,542,930 shares of the company were exchanged, compared to its average volume of 1,047,390. 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 firm has a market capitalization of $6.29 billion, a P/E ratio of 77.46, a price-to-earnings-growth ratio of 0.93 and a beta of 0.66. The firm's fifty day moving average price is $65.01 and its 200 day moving average price is $87.53. Parsons Co. has a 1-year low of $54.56 and a 1-year high of $114.68.

Parsons announced that its Board of Directors has approved a stock buyback plan on Monday, March 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Benchmark reaffirmed a "buy" rating and issued a $90.00 target price on shares of Parsons in a research note on Wednesday, February 26th. Raymond James cut shares of Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Robert W. Baird decreased their price objective on Parsons from $125.00 to $78.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. Finally, KeyCorp decreased their price target on Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.