By Katherine Hamilton
Parsons increased its stock repurchase authorization to $250 million.
The defense technology provider said Monday its cash flow and operating results are allowing it to raise its buyback threshold.
Shares have fallen 36% over the past three months and hit a 52-week low of $54.56 earlier this month.
"The board's support for the increased authority reflects their collective confidence in our strategy, ability to continue to deliver strong operating results, and drive positive shareholder returns," Chief Executive Carey Smith said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 24, 2025 16:43 ET (20:43 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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