Concentra Group Holdings Parent (NYSE:CON) Hits New 12-Month High – What’s Next?

Concentra Group Holdings Parent, Inc. (NYSE:CON)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $32.86 and last traded at $31.5750, with a volume of 773530 shares. The stock had previously closed at $32.69.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings raised Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. William Blair started coverage on Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They set an “outperform” rating on the stock. The Goldman Sachs Group assumed coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Truist Financial boosted their price objective on Concentra Group Holdings Parent from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Concentra Group Holdings Parent has an average rating of “Moderate Buy” and a consensus price target of $31.40.

Concentra Group Holdings Parent Trading Down 3.4%

The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.49 and a beta of 0.64. The business’s fifty day moving average is $28.93 and its 200 day moving average is $24.91. 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 (NYSE:CON) last announced its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $569.55 million during the quarter, compared to analyst estimates of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS. Equities analysts predict that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Concentra Group Holdings Parent’s dividend payout ratio is currently 17.99%.

Insider Activity

In related news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $30.50, for a total transaction of $3,965,000.00. Following the completion of the transaction, the director directly owned 633,455 shares in the company, valued at approximately $19,320,377.50. This trade represents a 17.03% decrease in their ownership of the stock. 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. Insiders sold 390,000 shares of company stock worth $10,465,000 in the last ninety days. 8.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Large investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its stake 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 acquiring an additional 500 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Concentra Group Holdings Parent by 32.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,118 shares of the company’s stock worth $42,000 after purchasing an additional 514 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in Concentra Group Holdings Parent by 1.9% during the first quarter. Gamco Investors INC. ET AL now owns 29,256 shares of the company’s stock worth $628,000 after purchasing an additional 536 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Concentra Group Holdings Parent by 124.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock worth $25,000 after purchasing an additional 663 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Concentra Group Holdings Parent by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 22,750 shares of the company’s stock valued at $448,000 after purchasing an additional 690 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.