Axa S.A. Has $6.91 Million Position in Parsons Co. (NYSE:PSN)

Axa S.A. raised its holdings in Parsons Co. (NYSE:PSN) by 539.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,926 shares of the company’s stock after buying an additional 63,215 shares during the quarter. Axa S.A. owned 0.07% of Parsons worth $6,912,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC bought a new stake in Parsons in the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parsons in the 4th quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new position in shares of Parsons in the 4th quarter worth approximately $26,000. Huntington National Bank raised its holdings in shares of Parsons by 28,900.0% in the 4th quarter. Huntington National Bank now owns 290 shares of the company’s stock worth $27,000 after buying an additional 289 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after buying an additional 218 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PSN. Baird R W cut Parsons from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 1st. KeyCorp dropped their target price on shares of Parsons from $76.00 to $73.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Bank of America cut their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a $65.00 price objective (down from $75.00) on shares of Parsons in a research note on Monday. Finally, Robert W. Baird cut shares of Parsons from an “outperform” rating to a “neutral” rating and cut their target price for the company from $72.00 to $69.00 in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.20.

Parsons Price Performance

PSN opened at $62.71 on Wednesday. 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 company’s 50 day simple moving average is $61.53 and its 200-day simple moving average is $81.22. Parsons Co. has a one year low of $54.56 and a one year high of $114.68. The stock has a market capitalization of $6.70 billion, a P/E ratio of 82.51, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57.

Parsons announced that its board has approved a stock buyback plan on Monday, March 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board 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.