10,135 Shares in Parsons Co. (NYSE:PSN) Acquired by Vertex Planning Partners LLC

Vertex Planning Partners LLC purchased a new position in Parsons Co. (NYSE:PSN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,135 shares of the company’s stock, valued at approximately $935,000.

Several other institutional investors have also modified their holdings of PSN. Thrivent Financial for Lutherans purchased a new stake in Parsons in the 3rd quarter valued at about $1,138,000. Cerity Partners LLC purchased a new stake in shares of Parsons during the 3rd quarter valued at $759,000. Fisher Asset Management LLC grew its stake in shares of Parsons by 2.1% during the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock worth $452,000 after acquiring an additional 90 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Parsons by 110.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 54,933 shares of the company’s stock valued at $5,695,000 after purchasing an additional 28,820 shares in the last quarter. Finally, FMR LLC raised its stake in Parsons by 391.4% in the 3rd quarter. FMR LLC now owns 195,850 shares of the company’s stock worth $20,306,000 after acquiring an additional 155,991 shares during the last quarter. 98.02% of the stock is owned by institutional investors.

Parsons Price Performance

Shares of PSN opened at $60.60 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 stock has a market cap of $6.47 billion, a PE ratio of 79.74, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The firm has a fifty day moving average price of $69.31 and a 200 day moving average price of $89.46. Parsons Co. has a 1-year low of $54.56 and a 1-year high of $114.68.

Parsons declared that its board has initiated a share buyback plan on Monday, March 24th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. KeyCorp dropped their price objective on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Robert W. Baird dropped their price target on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Finally, Benchmark reaffirmed a “buy” rating and set a $90.00 price target on shares of Parsons in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.44.

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.