Louisiana State Employees Retirement System Makes New Investment in Concentra Group Holdings Parent, Inc. $CON

Louisiana State Employees Retirement System purchased a new position in Concentra Group Holdings Parent, Inc. (NYSE:CON) in the first quarter, HoldingsChannel reports. The institutional investor purchased 52,900 shares of the company’s stock, valued at approximately $1,135,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Concentra Group Holdings Parent in the 4th quarter valued at $43,404,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Concentra Group Holdings Parent during the 3rd quarter worth about $35,124,000. Woodline Partners LP lifted its position in Concentra Group Holdings Parent by 142.7% during the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company’s stock worth $57,484,000 after acquiring an additional 1,614,988 shares during the period. JPMorgan Chase & Co. grew its stake in Concentra Group Holdings Parent by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company’s stock valued at $81,089,000 after purchasing an additional 445,449 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Concentra Group Holdings Parent by 38.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,577,610 shares of the company’s stock valued at $31,047,000 after purchasing an additional 436,212 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They issued a “buy” rating and a $30.00 price objective on the stock. William Blair assumed coverage on Concentra Group Holdings Parent in a research report on Wednesday. They issued an “outperform” rating on the stock. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Truist Financial reissued a “buy” rating and set a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.20.

Insider Buying and Selling

In related news, Director Robert A. Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the completion of the transaction, the director directly owned 763,455 shares in the company, valued at approximately $19,086,375. This trade represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is currently owned by company insiders.

Concentra Group Holdings Parent Trading Down 0.3%

NYSE CON opened at $31.82 on Friday. Concentra Group Holdings Parent, Inc. has a 1 year low of $18.55 and a 1 year high of $31.93. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $4.07 billion, a PE ratio of 22.89, a P/E/G ratio of 1.45 and a beta of 0.64. The company has a fifty day moving average of $26.27 and a 200 day moving average of $23.39.

Concentra Group Holdings Parent (NYSE:CON) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $569.55 million for the quarter, compared to the consensus estimate of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. Research analysts forecast that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current year.

Concentra Group Holdings Parent Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is 17.99%.

Concentra Group Holdings Parent 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.