Concentra Group Holdings Parent (NYSE:CON) Reaches New 52-Week High – Time to Buy?

Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) reached a new 52-week high on Friday . The stock traded as high as $32.51 and last traded at $32.1230, with a volume of 126762 shares. The stock had previously closed at $31.53.

Analyst Upgrades and Downgrades

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

Concentra Group Holdings Parent Price Performance

The stock has a market capitalization of $4.06 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 1.43 and a beta of 0.64. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26. The business’s 50 day moving average price is $28.43 and its 200 day moving average price is $24.57.

Concentra Group Holdings Parent (NYSE:CON) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $569.55 million for the quarter, compared to the consensus estimate of $553.53 million. During the same period last year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Sell-side analysts forecast that Concentra Group Holdings Parent, Inc. will post 1.52 EPS for the current year.

Concentra Group Holdings Parent Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were given a $0.0625 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.25 annualized dividend and a yield of 0.8%. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is presently 17.99%.

Insiders Place Their Bets

In related news, Director Robert A. Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction on 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 directly owned 633,455 shares in the company, valued at approximately $19,320,377.50. The trade was a 17.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Insiders sold 390,000 shares of company stock worth $10,465,000 in the last quarter. 8.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Several large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Concentra Group Holdings Parent by 0.5% in the 4th quarter. State Street Corp now owns 4,446,551 shares of the company’s stock worth $87,508,000 after buying an additional 22,442 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Concentra Group Holdings Parent by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company’s stock worth $66,645,000 after acquiring an additional 144,379 shares in the last quarter. Geode Capital Management LLC lifted its position in Concentra Group Holdings Parent by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company’s stock valued at $56,130,000 after purchasing an additional 19,122 shares during the last quarter. Woodline Partners LP grew its position 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. Finally, Principal Financial Group Inc. increased its position in shares of Concentra Group Holdings Parent by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 2,668,512 shares of the company’s stock valued at $57,238,000 after purchasing an additional 41,891 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.