Teacher Retirement System of Texas Has $864,000 Stake in Parsons Corporation (NYSE:PSN)

Teacher Retirement System of Texas decreased its position in Parsons Corporation (NYSE:PSN) by 55.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,599 shares of the company’s stock after selling 18,153 shares during the quarter. Teacher Retirement System of Texas’ holdings in Parsons were worth $864,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC acquired a new stake in shares of Parsons in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parsons in the 4th quarter valued at $25,000. Huntington National Bank lifted its stake in shares of Parsons by 28,900.0% in the 4th quarter. Huntington National Bank now owns 290 shares of the company’s stock valued at $27,000 after acquiring an additional 289 shares during the last quarter. Quarry LP bought a new position in shares of Parsons in the 4th quarter valued at $30,000. Finally, Headlands Technologies LLC bought a new position in shares of Parsons in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Up 0.2%

Shares of NYSE:PSN opened at $74.95 on Tuesday. The firm has a market cap of $8.01 billion, a P/E ratio of 31.62, a P/E/G ratio of 4.47 and a beta of 0.55. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Parsons Corporation has a 12-month low of $54.56 and a 12-month high of $114.68. The business has a fifty day simple moving average of $68.93 and a 200 day simple moving average of $70.24.

Parsons declared that its board has authorized a stock buyback program on Monday, March 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. KeyCorp dropped their price target on Parsons from $76.00 to $73.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Raymond James Financial upgraded Parsons from a “market perform” rating to a “strong-buy” rating and set a $90.00 price target for the company in a research note on Tuesday, July 8th. The Goldman Sachs Group dropped their price target on Parsons from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, June 4th. Bank of America dropped their price target on Parsons from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, June 3rd. Finally, Stifel Nicolaus assumed coverage on Parsons in a research note on Tuesday, June 24th. They issued a “buy” rating and a $81.00 price target for the company. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.30.

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.