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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CON shares. The Goldman Sachs Group assumed coverage on shares of Concentra Group Holdings Parent in a research report on Friday, June 5th. They set a “buy” rating and a $30.00 price target for the company. Truist Financial reissued a “buy” rating and issued a $31.00 price objective (up from $29.00) on shares of Concentra Group Holdings Parent in a report on Monday, May 11th. Wells Fargo & Company boosted their price target 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. Finally, Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Concentra Group Holdings Parent has an average rating of “Moderate Buy” and an average target price of $30.20.

Concentra Group Holdings Parent Price Performance

The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $3.74 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.30 and a beta of 0.82. The firm’s fifty day moving average is $25.16 and its two-hundred day moving average is $22.88.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $569.55 million for the quarter, compared to analysts’ expectations of $553.53 million. During the same period last year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.53 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

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

Insider Buying and Selling

In related news, Director Robert A. Ortenzio sold 130,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $25.00, for a total value of $3,250,000.00. Following the transaction, the director directly owned 763,455 shares of the company’s stock, valued at approximately $19,086,375. The trade was a 14.55% decrease in their position. The transaction was disclosed in a document filed 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.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake 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 valued at $25,000 after acquiring an additional 663 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Concentra Group Holdings Parent by 2,784.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock valued at $30,000 after purchasing an additional 1,392 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Concentra Group Holdings Parent by 49.1% during the third quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock valued at $34,000 after purchasing an additional 528 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Concentra Group Holdings Parent in the fourth quarter worth about $35,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Concentra Group Holdings Parent by 59.5% in the second quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock worth $42,000 after purchasing an additional 761 shares during the last quarter.

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.