Axa S.A. Acquires 63,215 Shares of Parsons Co. (NYSE:PSN)

Axa S.A. lifted its holdings in shares of Parsons Co. (NYSE:PSN) by 539.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 74,926 shares of the company’s stock after acquiring an additional 63,215 shares during the period. Axa S.A.’s holdings in Parsons were worth $6,912,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PSN. Norden Group LLC bought a new position in Parsons during the fourth quarter worth about $499,000. Wolverine Asset Management LLC bought a new position in Parsons during the 4th quarter worth approximately $577,000. Truist Financial Corp grew its holdings in Parsons by 12.5% during the fourth quarter. Truist Financial Corp now owns 45,253 shares of the company’s stock valued at $4,175,000 after purchasing an additional 5,032 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in Parsons by 15.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 86,149 shares of the company’s stock valued at $8,052,000 after purchasing an additional 11,520 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in Parsons by 676.6% in the fourth quarter. Ieq Capital LLC now owns 19,019 shares of the company’s stock worth $1,755,000 after purchasing an additional 16,570 shares during the period. 98.02% of the stock is owned by institutional investors.

Parsons Trading Up 2.8 %

NYSE:PSN opened at $62.71 on Wednesday. The company has a market cap of $6.70 billion, a P/E ratio of 82.51, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57. Parsons Co. has a twelve month low of $54.56 and a twelve month high of $114.68. The business has a 50 day moving average price of $61.53 and a two-hundred day moving average price of $81.22. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Parsons declared that its board has authorized a share repurchase plan on Monday, March 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently commented on PSN shares. Jefferies Financial Group restated a “hold” rating and issued a $65.00 price objective (down previously from $75.00) on shares of Parsons in a research report on Monday. KeyCorp lowered their price target on Parsons from $76.00 to $73.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Truist Financial reiterated a “buy” rating and set a $80.00 price objective (up previously from $70.00) on shares of Parsons in a report on Thursday, May 1st. Baird R W cut Parsons from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group cut their price target on shares of Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.20.

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.