Aquatic Capital Management LLC Makes New $6.14 Million Investment in Parsons Co. (NYSE:PSN)

Aquatic Capital Management LLC acquired a new position in Parsons Co. (NYSE:PSN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 66,499 shares of the company’s stock, valued at approximately $6,135,000. Aquatic Capital Management LLC owned 0.06% of Parsons as of its most recent SEC filing.

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

Parsons Price Performance

PSN stock opened at $67.74 on Friday. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68. The firm has a market capitalization of $7.23 billion, a P/E ratio of 89.13, a price-to-earnings-growth ratio of 0.93 and a beta of 0.66. The company has a fifty day simple moving average of $60.91 and a two-hundred day simple moving average of $83.29. 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 declared that its board has approved a stock buyback program on Monday, March 24th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PSN shares. Jefferies Financial Group lowered their price objective on Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. The Goldman Sachs Group lowered their price target on Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. KeyCorp cut their price objective 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. Bank of America lowered their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Finally, Truist Financial dropped their target price on shares of Parsons from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.60.

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.