Parsons Co. (NYSE:PSN) Shares Bought by Captrust Financial Advisors

Captrust Financial Advisors grew its holdings in Parsons Co. (NYSE:PSN) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,030 shares of the company’s stock after buying an additional 298 shares during the quarter. Captrust Financial Advisors’ holdings in Parsons were worth $1,018,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PSN. CIBC Private Wealth Group LLC purchased a new stake in Parsons in the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parsons in the fourth quarter valued at about $25,000. 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 worth $27,000 after purchasing an additional 289 shares in the last quarter. Quarry LP purchased a new position in Parsons in the 4th quarter valued at about $30,000. Finally, Principal Securities Inc. purchased a new position in Parsons in the 4th quarter valued at about $33,000. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Stock Performance

Parsons stock opened at $68.31 on Friday. The firm has a 50 day simple moving average of $62.54 and a 200-day simple moving average of $79.44. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 89.88, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. Parsons Co. has a 1-year low of $54.56 and a 1-year high of $114.68.

Parsons declared that its Board of Directors has authorized a stock repurchase program on Monday, March 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PSN. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 18th. Benchmark restated a “buy” rating and issued a $90.00 price objective on shares of Parsons in a report on Wednesday, February 26th. The Goldman Sachs Group dropped their target price on shares of Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Robert W. Baird downgraded 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, Bank of America lowered their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Parsons currently has an average rating of “Moderate Buy” and an average target price of $90.20.

About Parsons

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.