Concentra Group Holdings Parent (NYSE:CON) Sets New 52-Week High Following Dividend Announcement

Concentra Group Holdings Parent, Inc. (NYSE:CON)’s share price hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $41.71 and last traded at $41.4050, with a volume of 572,167 shares traded. The stock had previously closed at $40.15.

The newly announced dividend which will be paid on Friday, December 4th. Investors of record on Thursday, November 19th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, November 19th. Concentra Group Holdings Parent’s dividend payout ratio is 16.13%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CON. Zacks Research raised shares of Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 31st. Jefferies Financial Group began coverage on shares of Concentra Group Holdings Parent in a research note on Friday, October 16th. They issued a “buy” rating and a $47.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Concentra Group Holdings Parent from $28.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Truist Financial lifted 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, August 10th. Finally, Stephens assumed coverage on shares of Concentra Group Holdings Parent in a research report on Tuesday, October 20th. They set an “overweight” rating and a $45.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $41.29.

Concentra Group Holdings Parent Stock 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 stock has a fifty day simple moving average of $36.86 and a two-hundred day simple moving average of $28.89. The stock has a market cap of $5.37 billion, a PE ratio of 27.12, a PEG ratio of 1.58 and a beta of 0.51.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. The company had revenue of $622.12 million for the quarter, compared to analyst estimates of $605.52 million. During the same quarter last year, the firm posted $0.39 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.65 EPS for the current fiscal year.

Institutional Trading of Concentra Group Holdings Parent

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in Concentra Group Holdings Parent by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company’s stock valued at $66,645,000 after acquiring an additional 144,379 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Concentra Group Holdings Parent by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 2,668,512 shares of the company’s stock worth $57,238,000 after purchasing an additional 41,891 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of 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 worth $46,596,000 after purchasing an additional 1,437,912 shares in the last quarter. HBK Investments L P raised its holdings in shares of Concentra Group Holdings Parent by 21.1% in the 2nd quarter. HBK Investments L P now owns 1,044,614 shares of the company’s stock worth $31,077,000 after purchasing an additional 181,864 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of Concentra Group Holdings Parent in the 3rd quarter worth approximately $16,069,000.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent, Inc is the parent company of Concentra, a provider of occupational health services in the United States. The company primarily serves employers, workers and insurers through a nationwide network of medical centers and employer-based clinics.

Concentra’s services include workplace injury care, workers’ compensation treatment, physical examinations, drug and alcohol testing, vaccinations, physical therapy, urgent care and other occupational medicine programs.