Teachers Retirement System of The State of Kentucky Boosts Position in Parsons Co. (NYSE:PSN)

Teachers Retirement System of The State of Kentucky raised its stake in Parsons Co. (NYSE:PSN) by 86.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,270 shares of the company’s stock after buying an additional 7,070 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Parsons were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC bought a new stake in shares of Parsons during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parsons during the 4th quarter valued at $25,000. ORG Wealth Partners LLC bought a new position in shares of Parsons during the 4th quarter worth $26,000. Huntington National Bank increased its stake in shares of Parsons by 28,900.0% during the fourth quarter. Huntington National Bank now owns 290 shares of the company’s stock valued at $27,000 after buying an additional 289 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PSN shares. KeyCorp dropped their target price on shares of Parsons from $76.00 to $73.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Robert W. Baird cut their price objective on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. The Goldman Sachs Group reduced their price objective on shares of Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Truist Financial cut their price target on Parsons from $85.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, TD Cowen lowered Parsons from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.60.

Parsons Trading Up 0.6 %

Shares of NYSE:PSN opened at $67.74 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The firm has a market capitalization of $7.23 billion, a P/E ratio of 89.13, a P/E/G ratio of 0.93 and a beta of 0.66. The business’s 50-day moving average is $60.91 and its 200 day moving average is $83.29. Parsons Co. has a 1 year low of $54.56 and a 1 year high of $114.68.

Parsons announced that its board has approved a share repurchase program on Monday, March 24th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Parsons 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.