19,626 Shares in Parsons Co. (NYSE:PSN) Acquired by Centiva Capital LP

Centiva Capital LP bought a new stake in shares of Parsons Co. (NYSE:PSN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 19,626 shares of the company’s stock, valued at approximately $1,810,000.

A number of other hedge funds also recently modified their holdings of PSN. Tidal Investments LLC raised its position in Parsons by 140.9% during the third quarter. Tidal Investments LLC now owns 7,214 shares of the company’s stock valued at $748,000 after buying an additional 4,220 shares during the period. Franklin Resources Inc. lifted its position in shares of Parsons by 11.8% in the third quarter. Franklin Resources Inc. now owns 601,071 shares of the company’s stock worth $64,813,000 after purchasing an additional 63,657 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Parsons by 18.1% during the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock worth $123,685,000 after purchasing an additional 183,117 shares during the period. GAMMA Investing LLC grew its position in Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after purchasing an additional 218 shares in the last quarter. Finally, First Hawaiian Bank increased its stake in Parsons by 48.8% in the 4th quarter. First Hawaiian Bank now owns 39,523 shares of the company’s stock valued at $3,646,000 after buying an additional 12,964 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PSN shares. The Goldman Sachs Group lowered their price target on shares of Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $65.00 target price (down from $75.00) on shares of Parsons in a research report on Monday. KeyCorp reduced their price target on Parsons from $76.00 to $73.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Baird R W lowered shares of Parsons from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 1st. Finally, Benchmark reiterated a “buy” rating and issued a $90.00 target price on shares of Parsons in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.20.

Parsons Stock Up 0.4 %

PSN stock opened at $62.96 on Thursday. 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 has a 50-day moving average of $61.63 and a two-hundred day moving average of $81.09. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 82.84, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57. Parsons Co. has a 52-week low of $54.56 and a 52-week high of $114.68.

Parsons declared that its Board of Directors has approved a stock buyback program on Monday, March 24th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership 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.