Royce & Associates LP Acquires 35,572 Shares of Concentra Group Holdings Parent, Inc. $CON

Royce & Associates LP lifted its holdings in Concentra Group Holdings Parent, Inc. (NYSE:CON) by 8.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 457,132 shares of the company’s stock after purchasing an additional 35,572 shares during the period. Royce & Associates LP owned about 0.36% of Concentra Group Holdings Parent worth $8,996,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of Concentra Group Holdings Parent by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company’s stock worth $81,089,000 after purchasing an additional 445,449 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in Concentra Group Holdings Parent during the 4th quarter worth approximately $1,240,000. Public Sector Pension Investment Board raised its stake in Concentra Group Holdings Parent by 25.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 464,944 shares of the company’s stock worth $9,731,000 after acquiring an additional 93,534 shares during the period. Thrivent Financial for Lutherans raised its stake in Concentra Group Holdings Parent by 41.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,245,778 shares of the company’s stock worth $67,934,000 after acquiring an additional 945,303 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Concentra Group Holdings Parent during the 3rd quarter worth approximately $35,124,000.

Insiders Place Their Bets

In related news, Director Robert A. Ortenzio sold 130,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $25.00, for a total value of $3,250,000.00. Following the sale, the director owned 893,455 shares in the company, valued at approximately $22,336,375. The trade was a 12.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CON shares. Royal Bank Of Canada raised 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 research note on Monday, February 2nd. 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. Truist Financial restated a “buy” rating and set a $31.00 target price (up from $29.00) on shares of Concentra Group Holdings Parent in a research note on Monday, May 11th. Finally, Wells Fargo & Company raised 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 research note on Thursday, March 5th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.25.

Concentra Group Holdings Parent Stock Down 1.6%

CON opened at $25.39 on Friday. The firm has a 50-day simple moving average of $23.15 and a two-hundred day simple moving average of $21.94. Concentra Group Holdings Parent, Inc. has a 52 week low of $18.55 and a 52 week high of $26.66. The company has a market capitalization of $3.25 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.17 and a beta of 0.72. 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 released its quarterly earnings data on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The business had revenue of $569.56 million during the quarter, compared to the consensus estimate of $553.53 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The business’s revenue was up 13.7% on a year-over-year basis. Analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, May 19th. Concentra Group Holdings Parent’s payout ratio is currently 17.99%.

Concentra Group Holdings Parent 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.