Private Capital Advisors Inc. Buys Shares of 3,571 Parsons Corporation (NYSE:PSN)

Private Capital Advisors Inc. bought a new stake in shares of Parsons Corporation (NYSE:PSN) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,571 shares of the company’s stock, valued at approximately $211,000.

A number of other large investors have also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Parsons by 0.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,207 shares of the company’s stock valued at $1,311,000 after buying an additional 131 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Parsons by 7.3% during the 4th quarter. ProShare Advisors LLC now owns 2,185 shares of the company’s stock worth $202,000 after purchasing an additional 149 shares during the period. CWM LLC lifted its stake in shares of Parsons by 2.1% during the 1st quarter. CWM LLC now owns 7,810 shares of the company’s stock worth $462,000 after purchasing an additional 163 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Parsons by 1.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 17,205 shares of the company’s stock worth $1,587,000 after purchasing an additional 194 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in shares of Parsons by 1.8% during the 1st quarter. New York State Teachers Retirement System now owns 11,317 shares of the company’s stock worth $670,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Price Performance

Shares of Parsons stock opened at $74.85 on Monday. Parsons Corporation has a twelve month low of $54.56 and a twelve month high of $114.68. The stock has a market capitalization of $8.00 billion, a P/E ratio of 31.58, a PEG ratio of 4.47 and a beta of 0.55. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.31. The business’s fifty day moving average price is $68.65 and its 200 day moving average price is $70.37.

Parsons declared that its board has approved a stock repurchase plan on Monday, March 24th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PSN shares. Baird R W lowered Parsons from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. Robert W. Baird lowered Parsons from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $72.00 to $69.00 in a research note on Thursday, May 1st. Jefferies Financial Group increased their price target on Parsons from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, July 2nd. Stifel Nicolaus started coverage on Parsons in a research note on Tuesday, June 24th. They set a “buy” rating and a $81.00 price target on the stock. Finally, Truist Financial reissued a “buy” rating and set a $80.00 price target (up previously from $70.00) on shares of Parsons in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.30.

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.