Concentra Group Holdings Parent (NYSE:CON) Sets New 1-Year High – Here’s Why

Concentra Group Holdings Parent, Inc. (NYSE:CON)’s stock price reached a new 52-week high on Friday . The company traded as high as $35.33 and last traded at $35.2550, with a volume of 15898 shares changing hands. The stock had previously closed at $35.12.

Wall Street Analysts Forecast Growth

CON has been the topic of several recent analyst reports. Truist Financial raised their target price on shares of Concentra Group Holdings Parent from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank Of Canada lifted their target price on shares of Concentra Group Holdings Parent from $36.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday. The Goldman Sachs Group assumed coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They issued a “buy” rating and a $30.00 price target for the company. William Blair started coverage on Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They set an “outperform” rating on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Concentra Group Holdings Parent in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Concentra Group Holdings Parent Price Performance

The company’s 50 day moving average price is $30.53 and its 200-day moving average price is $25.79. The company has a market capitalization of $4.50 billion, a PE ratio of 22.79, a PEG ratio of 1.29 and a beta of 0.62. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 3.22.

Concentra Group Holdings Parent (NYSE:CON) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The business had revenue of $606.03 million during the quarter, compared to the consensus estimate of $591.75 million. Concentra Group Holdings Parent had a return on equity of 47.81% and a net margin of 8.69%.The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. On average, sell-side analysts forecast that Concentra Group Holdings Parent, Inc. will post 1.6 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.0625 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.7%. Concentra Group Holdings Parent’s dividend payout ratio is currently 16.13%.

Insider Activity at Concentra Group Holdings Parent

In other news, Director Robert A. Ortenzio sold 130,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $31.84, for a total value of $4,139,200.00. Following the transaction, the director directly owned 503,455 shares in the company, valued at $16,030,007.20. This trade represents a 20.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 390,000 shares of company stock valued at $11,354,200. Company insiders own 8.10% of the company’s stock.

Institutional Trading of Concentra Group Holdings Parent

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its position in 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 purchasing an additional 5,754 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Concentra Group Holdings Parent during the first quarter worth approximately $293,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 buying an additional 2,873 shares during the period. Goldman Sachs Group Inc. increased its position in shares of 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 acquiring an additional 434,503 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of 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 worth $4,568,000 after acquiring an additional 19,846 shares in 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.