Concentra Group Holdings Parent’s (CON) “Buy” Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Concentra Group Holdings Parent (NYSE:CON) in a research report released on Monday,Benzinga reports. They currently have a $31.00 price target on the stock, up from their prior price target of $29.00.

Several other research firms have also commented on CON. Wells Fargo & Company lifted their price objective 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. Royal Bank Of Canada lifted their price objective 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. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Concentra Group Holdings Parent presently has a consensus rating of “Moderate Buy” and an average target price of $30.25.

Concentra Group Holdings Parent Stock Up 1.0%

NYSE CON opened at $25.83 on Monday. 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 company has a fifty day moving average of $22.52 and a two-hundred day moving average of $21.50. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.16 and a beta of 0.72. Concentra Group Holdings Parent has a 52 week low of $18.55 and a 52 week high of $25.87.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $569.56 million during the quarter, compared to analyst estimates of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. Concentra Group Holdings Parent’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. On average, analysts predict that Concentra Group Holdings Parent will post 1.53 earnings per share for the current year.

Concentra Group Holdings Parent Dividend Announcement

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

Insider Buying and Selling at Concentra Group Holdings Parent

In related news, Director Robert A. Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $25.00, for a total value of $3,250,000.00. Following the completion of the sale, the director directly owned 893,455 shares in the company, valued at $22,336,375. The trade was a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by insiders.

Institutional Trading of Concentra Group Holdings Parent

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Concentra Group Holdings Parent by 0.5% in the fourth quarter. State Street Corp now owns 4,446,551 shares of the company’s stock valued at $87,508,000 after acquiring an additional 22,442 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Concentra Group Holdings Parent by 13.0% in the third 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 in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of 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 valued at $67,934,000 after acquiring an additional 945,303 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Concentra Group Holdings Parent by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company’s stock valued at $66,645,000 after acquiring an additional 144,379 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Concentra Group Holdings Parent by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company’s stock valued at $56,130,000 after acquiring an additional 19,122 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.