Concentra Group Holdings Parent (NYSE:CON) Reaches New 12-Month High After Earnings Beat

Concentra Group Holdings Parent, Inc. (NYSE:CON)’s stock price reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $34.81 and last traded at $33.6940, with a volume of 82196 shares trading hands. The stock had previously closed at $30.54.

The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The firm had revenue of $606.03 million for the quarter, compared to the consensus estimate of $591.75 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis.

Concentra Group Holdings Parent Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 20th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, August 20th. Concentra Group Holdings Parent’s payout ratio is presently 17.99%.

Analyst Upgrades and Downgrades

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

Insider Activity at Concentra Group Holdings Parent

In other news, Director Robert A. Ortenzio sold 130,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $31.84, for a total transaction of $4,139,200.00. Following the completion of the sale, the director owned 503,455 shares of the company’s stock, valued at $16,030,007.20. This represents a 20.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 390,000 shares of company stock worth $11,354,200. 8.10% of the stock is owned by corporate insiders.

Institutional Trading of Concentra Group Holdings Parent

Large investors have recently added to or reduced their stakes in the business. Tributary Capital Management LLC grew its stake in shares of Concentra Group Holdings Parent by 12.4% during the 4th quarter. Tributary Capital Management LLC now owns 566,839 shares of the company’s stock valued at $11,155,000 after acquiring an additional 62,573 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in Concentra Group Holdings Parent in the 4th quarter worth approximately $1,240,000. Norges Bank purchased a new stake in Concentra Group Holdings Parent in the 4th quarter worth approximately $43,404,000. First Eagle Investment Management LLC raised its stake in Concentra Group Holdings Parent by 18.4% during the 4th quarter. First Eagle Investment Management LLC now owns 383,206 shares of the company’s stock worth $7,541,000 after acquiring an additional 59,500 shares during the period. Finally, Brant Point Investment Management LLC purchased a new position in Concentra Group Holdings Parent during the fourth quarter valued at approximately $5,235,000.

Concentra Group Holdings Parent Price Performance

The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. The firm has a market cap of $4.41 billion, a PE ratio of 24.78, a P/E/G ratio of 1.40 and a beta of 0.62. The firm’s fifty day simple moving average is $29.62 and its two-hundred day simple moving average is $25.36.

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.