Concentra Group Holdings Parent (NYSE:CON) Hits New 52-Week High – Here’s What Happened

Concentra Group Holdings Parent, Inc. (NYSE:CON) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $28.94 and last traded at $28.8450, with a volume of 143740 shares traded. The stock had previously closed at $28.49.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CON. Wells Fargo & Company increased their price objective on Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. The Goldman Sachs Group began coverage on Concentra Group Holdings Parent in a research report on Friday, June 5th. They issued a “buy” rating and a $30.00 target price on the stock. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.20.

Concentra Group Holdings Parent Trading Up 1.3%

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.30 and a beta of 0.82. The company has a fifty day moving average price of $24.89 and a 200-day moving average price of $22.75.

Concentra Group Holdings Parent (NYSE:CON) last posted its earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The firm had revenue of $569.55 million for the quarter, compared to analyst estimates of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.Concentra Group Holdings Parent’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. As a group, research analysts expect that Concentra Group Holdings Parent, Inc. will post 1.53 EPS for the current year.

Concentra Group Holdings Parent Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is presently 17.99%.

Insider Buying and Selling at Concentra Group Holdings Parent

In related news, Director Robert A. Ortenzio sold 130,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 763,455 shares in the company, valued at $19,086,375. The trade was a 14.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Concentra Group Holdings Parent by 7.6% during the 1st quarter. Royal Bank of Canada now owns 81,441 shares of the company’s stock worth $1,767,000 after acquiring an additional 5,754 shares in the last quarter. AQR Capital Management LLC acquired a new position in Concentra Group Holdings Parent in the 1st quarter worth about $293,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Concentra Group Holdings Parent by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,515 shares of the company’s stock worth $1,422,000 after purchasing an additional 2,873 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Concentra Group Holdings Parent by 48.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,329,498 shares of the company’s stock valued at $28,850,000 after purchasing an additional 434,503 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Concentra Group Holdings Parent by 10.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,526 shares of the company’s stock valued at $4,568,000 after purchasing an additional 19,846 shares during the period.

About Concentra Group Holdings Parent

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.