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

Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $32.86 and last traded at $31.5750, with a volume of 773530 shares trading hands. The stock had previously closed at $32.69.

Wall Street Analysts Forecast Growth

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

Concentra Group Holdings Parent Stock Down 3.4%

The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.49 and a beta of 0.64. The business’s 50-day moving average is $28.93 and its 200-day moving average is $24.91. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.26 and a current ratio of 1.26.

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

Concentra Group Holdings Parent Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a $0.0625 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 17.99%.

Insider Activity

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the firm’s 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 transaction, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 390,000 shares of company stock valued at $10,465,000. 8.10% of the stock is owned by company insiders.

Institutional Trading of Concentra Group Holdings Parent

A number of hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in Concentra Group Holdings Parent during the 4th quarter worth approximately $43,404,000. Woodline Partners LP increased its stake 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 valued at $57,484,000 after purchasing an additional 1,614,988 shares in the last quarter. Jennison Associates LLC increased its stake in Concentra Group Holdings Parent by 195.8% in the first quarter. Jennison Associates LLC now owns 2,172,291 shares of the company’s stock valued at $46,596,000 after purchasing an additional 1,437,912 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Concentra Group Holdings Parent by 38.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,577,610 shares of the company’s stock worth $31,047,000 after purchasing an additional 436,212 shares during the period. Finally, Goldman Sachs Group Inc. raised 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 worth $28,850,000 after purchasing an additional 434,503 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.