Franklin Resources Inc. Acquires 32,699 Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON)

Franklin Resources Inc. increased its stake in Concentra Group Holdings Parent, Inc. (NYSE:CON) by 20.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 191,946 shares of the company’s stock after purchasing an additional 32,699 shares during the period. Franklin Resources Inc. owned approximately 0.15% of Concentra Group Holdings Parent worth $3,797,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Concentra Group Holdings Parent by 421.0% in the 4th quarter. Vanguard Group Inc. now owns 12,322,623 shares of the company’s stock worth $243,741,000 after buying an additional 9,957,396 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Concentra Group Holdings Parent by 57.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,245,943 shares of the company’s stock worth $64,205,000 after acquiring an additional 1,188,585 shares during the last quarter. Norges Bank purchased a new position in Concentra Group Holdings Parent in the fourth quarter worth $46,270,000. Principal Financial Group Inc. bought a new position in Concentra Group Holdings Parent in the fourth quarter valued at $44,395,000. Finally, Charles Schwab Investment Management Inc. raised its position in Concentra Group Holdings Parent by 712.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,541,405 shares of the company’s stock valued at $30,489,000 after purchasing an additional 1,351,595 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have recently issued reports on CON. Wells Fargo & Company cut their price objective on Concentra Group Holdings Parent from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Concentra Group Holdings Parent in a research note on Thursday, January 23rd. Bank of America lifted their price target on shares of Concentra Group Holdings Parent from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Concentra Group Holdings Parent from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, March 19th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $28.50.

Concentra Group Holdings Parent Stock Performance

Shares of CON stock opened at $20.21 on Friday. The company has a market capitalization of $2.57 billion and a P/E ratio of 13.38. Concentra Group Holdings Parent, Inc. has a fifty-two week low of $18.89 and a fifty-two week high of $24.81. The company has a debt-to-equity ratio of 5.20, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a 50 day moving average price of $21.90 and a two-hundred day moving average price of $21.30.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings results on Monday, March 3rd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $465.00 million for the quarter, compared to the consensus estimate of $465.00 million. Analysts expect that Concentra Group Holdings Parent, Inc. will post 1.47 earnings per share for the current year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.0625 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.24%. Concentra Group Holdings Parent’s dividend payout ratio is currently 16.56%.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent, Inc provides occupational health services in the United States. The company offers occupational and consumer health services, including workers’ compensation injury care, urgent care, clinical testing, preventative care, and employer services, as well as wellness programs through occupational health centers and onsite clinics.