First Eagle Investment Management LLC Raises Stake in Concentra Group Holdings Parent, Inc. $CON

First Eagle Investment Management LLC boosted its holdings in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) by 18.4% in the fourth quarter, HoldingsChannel reports. The fund owned 383,206 shares of the company’s stock after acquiring an additional 59,500 shares during the period. First Eagle Investment Management LLC’s holdings in Concentra Group Holdings Parent were worth $7,541,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Concentra Group Holdings Parent by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company’s stock valued at $81,089,000 after acquiring an additional 445,449 shares during the period. Hussman Strategic Advisors Inc. purchased a new position in Concentra Group Holdings Parent in the fourth quarter worth about $1,240,000. Thrivent Financial for Lutherans raised its holdings in Concentra Group Holdings Parent by 41.1% in the third quarter. Thrivent Financial for Lutherans now owns 3,245,778 shares of the company’s stock worth $67,934,000 after buying an additional 945,303 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Concentra Group Holdings Parent in the third quarter worth about $35,124,000. Finally, Cramer Rosenthal Mcglynn LLC raised its holdings in Concentra Group Holdings Parent by 14.7% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 2,091,448 shares of the company’s stock worth $43,774,000 after buying an additional 267,670 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CON. Royal Bank Of Canada lifted their target price on shares of Concentra Group Holdings Parent from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings raised shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Truist Financial reaffirmed a “buy” rating and issued a $31.00 target price (up from $29.00) on shares of Concentra Group Holdings Parent in a report on Monday. Finally, Wells Fargo & Company lifted their target price on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.25.

Insiders Place Their Bets

In related news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the transaction, the director owned 893,455 shares in the company, valued at $22,336,375. This represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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.

Concentra Group Holdings Parent Stock Up 2.3%

Shares of Concentra Group Holdings Parent stock opened at $25.57 on Wednesday. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.21 and a beta of 0.72. The company’s 50 day moving average is $22.48 and its 200 day moving average is $21.46. Concentra Group Holdings Parent, Inc. has a twelve month low of $18.55 and a twelve month high of $25.68. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62.

Concentra Group Holdings Parent (NYSE:CON) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $569.56 million for the quarter, compared to the consensus estimate of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Research analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.49 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be given a dividend of $0.0625 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a yield of 1.0%. Concentra Group Holdings Parent’s dividend payout ratio is 17.99%.

Concentra Group Holdings Parent Company Profile

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.