Thrivent Financial for Lutherans Reduces Holdings in Concentra Group Holdings Parent, Inc. $CON

Thrivent Financial for Lutherans decreased its position in Concentra Group Holdings Parent, Inc. (NYSE:CON) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,848,366 shares of the company’s stock after selling 397,412 shares during the period. Thrivent Financial for Lutherans’ holdings in Concentra Group Holdings Parent were worth $56,056,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Concentra Group Holdings Parent by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 27,308 shares of the company’s stock worth $537,000 after purchasing an additional 500 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Concentra Group Holdings Parent by 49.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock worth $34,000 after purchasing an additional 528 shares during the period. Versant Capital Management Inc boosted its position in shares of Concentra Group Holdings Parent by 80.6% during the 3rd quarter. Versant Capital Management Inc now owns 1,190 shares of the company’s stock worth $25,000 after purchasing an additional 531 shares during the period. EverSource Wealth Advisors LLC boosted its position in Concentra Group Holdings Parent by 124.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock valued at $25,000 after buying an additional 663 shares during the period. Finally, Osaic Holdings Inc. boosted its position in Concentra Group Holdings Parent by 59.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock valued at $42,000 after buying an additional 761 shares during the period.

Analyst Ratings Changes

CON has been the subject of several recent research reports. Wells Fargo & Company raised their price target on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Royal Bank Of Canada raised their price target on shares of Concentra Group Holdings Parent from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Weiss Ratings raised shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, Truist Financial reissued a “buy” rating and issued a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.25.

Insider Activity

In other news, Director Robert A. Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction on Friday, May 8th. The shares were sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the completion of the sale, the director directly owned 893,455 shares of the company’s stock, valued at approximately $22,336,375. The trade was a 12.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 8.10% of the company’s stock.

Concentra Group Holdings Parent Stock Performance

Shares of CON stock opened at $25.83 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent, Inc. has a 52 week low of $18.55 and a 52 week high of $26.66. The stock has a market capitalization of $3.31 billion, a PE ratio of 18.58, a P/E/G ratio of 1.18 and a beta of 0.72. The firm has a 50 day moving average of $22.62 and a two-hundred day moving average of $21.57.

Concentra Group Holdings Parent (NYSE:CON) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The company had revenue of $569.56 million during the quarter, compared to analysts’ expectations of $553.53 million. During the same quarter last year, the company posted $0.32 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. On average, research analysts predict that Concentra Group Holdings Parent, Inc. will post 1.53 EPS for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, May 19th. Concentra Group Holdings Parent’s payout ratio is 17.99%.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent (NYSE:CON) is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.