Concentra Group Holdings Parent (NYSE:CON) Sets New 1-Year High – Here’s Why

Concentra Group Holdings Parent, Inc. (NYSE:CON) shares hit a new 52-week high on Friday . The stock traded as high as $35.33 and last traded at $35.2550, with a volume of 15898 shares. The stock had previously closed at $35.12.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CON shares. Truist Financial increased their target price on shares of Concentra Group Holdings Parent from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday. William Blair initiated coverage on Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They set an “outperform” rating on the stock. Wells Fargo & Company upped their price target on Concentra Group Holdings Parent from $28.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday. Royal Bank Of Canada raised their price objective on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Concentra Group Holdings Parent in a report on Friday, August 7th. 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, Concentra Group Holdings Parent presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Concentra Group Holdings Parent Price Performance

The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.38 and a current ratio of 1.38. The company’s fifty day simple moving average is $30.53 and its two-hundred day simple moving average is $25.79. The stock has a market capitalization of $4.50 billion, a PE ratio of 22.79, a P/E/G ratio of 1.29 and a beta of 0.62.

Concentra Group Holdings Parent (NYSE:CON) last announced its earnings results on Thursday, August 6th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. The company had revenue of $606.03 million during the quarter, compared to analysts’ expectations of $591.75 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Concentra Group Holdings Parent, Inc. will post 1.6 EPS for the current year.

Concentra Group Holdings Parent Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 20th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 20th. Concentra Group Holdings Parent’s payout ratio is currently 16.13%.

Insider Transactions at Concentra Group Holdings Parent

In related news, Director Robert A. Ortenzio sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $31.84, for a total value of $4,139,200.00. Following the sale, the director owned 503,455 shares of the company’s stock, valued at approximately $16,030,007.20. This represents a 20.52% decrease in their position. The transaction was disclosed in a 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. Over the last 90 days, insiders sold 390,000 shares of company stock valued at $11,354,200. 8.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Concentra Group Holdings Parent during the fourth quarter valued at $43,404,000. Woodline Partners LP raised its stake in Concentra Group Holdings Parent by 142.7% in the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company’s stock valued at $57,484,000 after purchasing an additional 1,614,988 shares during the last quarter. Jennison Associates LLC raised its stake in Concentra Group Holdings Parent by 195.8% in the 1st quarter. Jennison Associates LLC now owns 2,172,291 shares of the company’s stock valued at $46,596,000 after purchasing an additional 1,437,912 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Concentra Group Holdings Parent by 38.2% in 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 in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Concentra Group Holdings Parent by 48.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,329,498 shares of the company’s stock valued at $28,850,000 after purchasing an additional 434,503 shares in the last quarter.

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.