Pullen Investment Management LLC Acquires 314 Shares of Parsons Co. (NYSE:PSN)

Pullen Investment Management LLC lifted its holdings in shares of Parsons Co. (NYSE:PSN) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,447 shares of the company’s stock after purchasing an additional 314 shares during the quarter. Pullen Investment Management LLC’s holdings in Parsons were worth $1,033,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. The Goldman Sachs Group lowered their target price on Parsons from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, June 4th. Bank of America dropped their target price on Parsons from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, June 3rd. TD Cowen cut Parsons from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research note on Friday, February 21st. Robert W. Baird cut shares of Parsons from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $72.00 to $69.00 in a research note on Thursday, May 1st. Finally, KeyCorp reduced their target price on shares of Parsons from $76.00 to $73.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Parsons presently has an average rating of “Moderate Buy” and an average target price of $86.90.

Parsons Trading Down 0.9%

Shares of Parsons stock opened at $69.74 on Friday. The stock has a market cap of $7.45 billion, a P/E ratio of 91.76, a P/E/G ratio of 0.93 and a beta of 0.53. 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 Co. has a 12-month low of $54.56 and a 12-month high of $114.68. The business’s 50 day moving average is $65.98 and its 200-day moving average is $74.10.

Parsons announced that its Board of Directors has approved a share repurchase plan on Monday, March 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is 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.