Parsons Co. (NYSE:PSN) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP raised its stake in shares of Parsons Co. (NYSE:PSN) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 178,500 shares of the company’s stock after buying an additional 21,855 shares during the quarter. Two Sigma Advisers LP owned about 0.17% of Parsons worth $16,467,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Parsons by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company’s stock valued at $422,093,000 after acquiring an additional 59,545 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Parsons by 271.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company’s stock valued at $190,932,000 after purchasing an additional 1,512,812 shares during the last quarter. Invesco Ltd. lifted its holdings in Parsons by 14.2% in the 4th quarter. Invesco Ltd. now owns 2,056,390 shares of the company’s stock valued at $189,702,000 after purchasing an additional 255,810 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Parsons by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,189,811 shares of the company’s stock worth $109,762,000 after purchasing an additional 26,230 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Parsons by 5.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,069,175 shares of the company’s stock worth $98,631,000 after purchasing an additional 52,522 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of NYSE:PSN opened at $67.29 on Thursday. The business has a 50-day moving average of $63.40 and a two-hundred day moving average of $78.34. The firm has a market capitalization of $7.19 billion, a PE ratio of 88.54, a P/E/G ratio of 0.93 and a beta of 0.57. 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 announced that its board has initiated a share buyback program on Monday, March 24th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. TD Cowen lowered shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Friday, February 21st. Benchmark reiterated a “buy” rating and issued a $90.00 price target on shares of Parsons in a report on Wednesday, February 26th. Bank of America decreased their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. The Goldman Sachs Group dropped their target price on Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Finally, William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.