Parsons Co. (NYSE:PSN) Stock Holdings Increased by Xponance Inc.

Xponance Inc. grew its position in shares of Parsons Co. (NYSE:PSN) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,254 shares of the company’s stock after buying an additional 250 shares during the period. Xponance Inc.’s holdings in Parsons were worth $485,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norden Group LLC acquired a new stake in shares of Parsons during the 4th quarter valued at approximately $499,000. Wolverine Asset Management LLC acquired a new stake in shares of Parsons during the fourth quarter worth $577,000. Geode Capital Management LLC lifted its position in shares of Parsons by 14.0% in the 3rd quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock worth $80,146,000 after buying an additional 95,040 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Parsons by 12.5% in the 4th quarter. Truist Financial Corp now owns 45,253 shares of the company’s stock valued at $4,175,000 after buying an additional 5,032 shares during the period. Finally, Ieq Capital LLC boosted its holdings in shares of Parsons by 676.6% in the 4th quarter. Ieq Capital LLC now owns 19,019 shares of the company’s stock valued at $1,755,000 after buying an additional 16,570 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analysts Set New Price Targets

PSN has been the topic of a number of recent research reports. KeyCorp cut their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird reduced their price objective on Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Jefferies Financial Group reduced their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.44.

Parsons Stock Performance

Shares of PSN opened at $61.17 on Thursday. The firm has a market capitalization of $6.53 billion, a PE ratio of 80.49, a P/E/G ratio of 0.93 and a beta of 0.78. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $70.00 and a 200 day moving average price of $89.66. Parsons Co. has a 52-week low of $54.56 and a 52-week high of $114.68.

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

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.