Concentra Group Holdings Parent (NYSE:CON) Reaches New 12-Month High – Here’s Why

Concentra Group Holdings Parent, Inc. (NYSE:CON)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $31.93 and last traded at $32.3810, with a volume of 1569 shares trading hands. The stock had previously closed at $31.91.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. 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 research note on Monday, May 11th. William Blair initiated coverage on shares of Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They set an “outperform” rating on the stock. Weiss Ratings raised shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, The Goldman Sachs Group began coverage on Concentra Group Holdings Parent in a research report on Friday, June 5th. They issued a “buy” rating and a $30.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.20.

Concentra Group Holdings Parent Trading Down 0.5%

The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. The firm has a market cap of $4.05 billion, a P/E ratio of 22.79, a P/E/G ratio of 1.45 and a beta of 0.64. The company’s 50 day simple moving average is $26.62 and its 200-day simple moving average is $23.59.

Concentra Group Holdings Parent (NYSE:CON) last released its 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 firm had revenue of $569.55 million for the quarter, compared to analysts’ expectations of $553.53 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, research analysts predict that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

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

Insider Buying and Selling

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $30.50, for a total value of $3,965,000.00. Following the sale, the director owned 633,455 shares in the company, valued at $19,320,377.50. This trade represents a 17.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 390,000 shares of company stock valued at $10,465,000. Corporate insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its holdings in Concentra Group Holdings Parent by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 27,308 shares of the company’s stock valued at $537,000 after buying an additional 500 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Concentra Group Holdings Parent by 32.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,118 shares of the company’s stock worth $42,000 after acquiring an additional 514 shares during the period. Gamco Investors INC. ET AL increased its position in shares of Concentra Group Holdings Parent by 1.9% during the first quarter. Gamco Investors INC. ET AL now owns 29,256 shares of the company’s stock worth $628,000 after acquiring an additional 536 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of 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. Finally, ProShare Advisors LLC raised its stake in shares of Concentra Group Holdings Parent by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 22,750 shares of the company’s stock valued at $448,000 after acquiring an additional 690 shares in the last quarter.

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.