Capital Fund Management S.A. Acquires Shares of 10,107 Parsons Co. (NYSE:PSN)

Capital Fund Management S.A. bought a new position in Parsons Co. (NYSE:PSN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 10,107 shares of the company’s stock, valued at approximately $932,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Martingale Asset Management L P raised its holdings in Parsons by 12.7% in the fourth quarter. Martingale Asset Management L P now owns 23,718 shares of the company’s stock worth $2,188,000 after purchasing an additional 2,670 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Parsons by 16.9% in the 4th quarter. Renaissance Technologies LLC now owns 199,500 shares of the company’s stock worth $18,404,000 after acquiring an additional 28,900 shares in the last quarter. FIL Ltd purchased a new position in Parsons during the 4th quarter valued at about $27,868,000. Invesco Ltd. lifted its position in Parsons by 14.2% during the 4th quarter. Invesco Ltd. now owns 2,056,390 shares of the company’s stock valued at $189,702,000 after acquiring an additional 255,810 shares during the period. Finally, Cerity Partners LLC boosted its stake in Parsons by 12.8% during the fourth quarter. Cerity Partners LLC now owns 8,260 shares of the company’s stock worth $773,000 after acquiring an additional 938 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

PSN has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $90.00 price objective on shares of Parsons in a research note on Wednesday, February 26th. TD Cowen cut shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price target on the stock. in a research note on Friday, February 21st. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. Bank of America dropped their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Finally, Raymond James downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Parsons has a consensus rating of “Moderate Buy” and an average target price of $93.60.

Parsons Stock Up 0.7 %

Shares of PSN opened at $64.52 on Thursday. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.89 billion, a PE ratio of 84.90, a price-to-earnings-growth ratio of 0.93 and a beta of 0.66. The business’s 50 day moving average is $62.24 and its 200 day moving average is $85.40.

Parsons declared that its Board of Directors has authorized a share buyback program on Monday, March 24th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board 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.