Concentra Group Holdings Parent (NYSE:CON) Hits New 12-Month High – Here’s Why

Concentra Group Holdings Parent, Inc. (NYSE:CON)’s share price reached a new 52-week high on Monday . The stock traded as high as $31.93 and last traded at $32.3810, with a volume of 1569 shares trading hands. The stock had previously closed at $31.91.

Wall Street Analyst Weigh In

Several research firms have commented on CON. The Goldman Sachs Group initiated 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. Truist Financial reissued a “buy” rating and set a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. William Blair initiated coverage on Concentra Group Holdings Parent in a report on Wednesday, July 1st. They issued an “outperform” rating for the company. Finally, Weiss Ratings raised shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Seven research 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, the company presently has an average rating of “Moderate Buy” and an average price target of $30.20.

Concentra Group Holdings Parent Stock Up 0.2%

The business’s 50 day moving average is $26.27 and its 200 day moving average is $23.42. 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 company has a market cap of $4.09 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.45 and a beta of 0.64.

Concentra Group Holdings Parent (NYSE:CON) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $569.55 million for the quarter, compared to the consensus estimate of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The business’s revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business posted $0.32 EPS. As a group, equities analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

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

Insider Buying and Selling at Concentra Group Holdings Parent

In other news, Director Robert A. Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $25.00, for a total value of $3,250,000.00. Following the transaction, the director owned 763,455 shares of the company’s stock, valued at $19,086,375. The trade was a 14.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 8.10% of the company’s stock.

Institutional Trading of Concentra Group Holdings Parent

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Concentra Group Holdings Parent during the 4th quarter worth $43,404,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Concentra Group Holdings Parent in the third quarter valued at about $35,124,000. Woodline Partners LP boosted its holdings in Concentra Group Holdings Parent by 142.7% in the third quarter. Woodline Partners LP now owns 2,746,505 shares of the company’s stock worth $57,484,000 after acquiring an additional 1,614,988 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Concentra Group Holdings Parent by 195.8% during the first quarter. Jennison Associates LLC now owns 2,172,291 shares of the company’s stock worth $46,596,000 after acquiring an additional 1,437,912 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Concentra Group Holdings Parent by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company’s stock worth $81,089,000 after acquiring an additional 445,449 shares during 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.