Concentra Group Holdings Parent (NYSE:CON) Price Target Raised to $42.00

Concentra Group Holdings Parent (NYSE:CON) had its price target upped by Royal Bank Of Canada from $36.00 to $42.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

CON has been the topic of a number of other research reports. The Goldman Sachs Group initiated coverage on shares of Concentra Group Holdings Parent in a research note on Friday, June 5th. They issued a “buy” rating and a $30.00 target price on the stock. Truist Financial lifted their price target on Concentra Group Holdings Parent from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Concentra Group Holdings Parent in a report on Friday, August 7th. Finally, William Blair assumed coverage on Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They set an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Concentra Group Holdings Parent Stock Up 4.1%

Shares of NYSE:CON opened at $34.38 on Monday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 3.22. The company has a fifty day simple moving average of $30.33 and a 200 day simple moving average of $25.70. The firm has a market cap of $4.38 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.31 and a beta of 0.62. Concentra Group Holdings Parent has a 12-month low of $18.55 and a 12-month high of $35.15.

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

Concentra Group Holdings Parent Dividend Announcement

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

Insider Buying and Selling 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 shares were 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 approximately $16,030,007.20. This trade represents a 20.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 390,000 shares of company stock worth $11,354,200 over the last 90 days. 8.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Concentra Group Holdings Parent

A number of institutional investors have recently modified their holdings of CON. Royal Bank of Canada raised its position in shares of 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 during the period. AQR Capital Management LLC acquired a new stake in Concentra Group Holdings Parent in the first quarter worth $293,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Concentra Group Holdings Parent by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,515 shares of the company’s stock valued at $1,422,000 after buying an additional 2,873 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in 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 valued at $28,850,000 after buying an additional 434,503 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Concentra Group Holdings Parent by 10.4% during 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 valued at $4,568,000 after acquiring an additional 19,846 shares during the period.

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.