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

Concentra Group Holdings Parent, Inc. (NYSE:CON) shares hit a new 52-week high on Thursday . The stock traded as high as $25.87 and last traded at $25.8340, with a volume of 992284 shares traded. The stock had previously closed at $25.57.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Royal Bank Of Canada boosted their price objective on shares of Concentra Group Holdings Parent from $30.00 to $31.00 and gave the company an “outperform” rating in a research report 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 report on Monday. Finally, Truist Financial reiterated a “buy” rating and set a $31.00 price objective (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Concentra Group Holdings Parent has a consensus rating of “Moderate Buy” and an average target price of $30.25.

Concentra Group Holdings Parent Price Performance

The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $3.31 billion, a P/E ratio of 18.58, a PEG ratio of 1.19 and a beta of 0.72. The stock’s 50-day simple moving average is $22.62 and its two-hundred day simple moving average is $21.57.

Concentra Group Holdings Parent (NYSE:CON) last posted 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. 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 for the quarter, compared to analysts’ expectations of $553.53 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. Equities research 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th will be issued a $0.0625 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.0%. Concentra Group Holdings Parent’s dividend payout ratio is presently 17.99%.

Insider Activity at Concentra Group Holdings Parent

In other news, Director Robert A. Ortenzio sold 130,000 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 893,455 shares in the company, valued at approximately $22,336,375. This represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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. Gamco Investors INC. ET AL grew its holdings in shares of Concentra Group Holdings Parent by 1.9% in the first quarter. Gamco Investors INC. ET AL now owns 29,256 shares of the company’s stock worth $628,000 after purchasing an additional 536 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Concentra Group Holdings Parent by 51.4% in the first quarter. Sei Investments Co. now owns 172,210 shares of the company’s stock worth $3,694,000 after purchasing an additional 58,444 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Concentra Group Holdings Parent by 28.4% in the first quarter. First Trust Advisors LP now owns 163,784 shares of the company’s stock worth $3,513,000 after purchasing an additional 36,241 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Concentra Group Holdings Parent by 20.0% in the first quarter. PNC Financial Services Group Inc. now owns 13,367 shares of the company’s stock worth $287,000 after purchasing an additional 2,230 shares during the last quarter. Finally, Summit Global Investments bought a new position in shares of Concentra Group Holdings Parent in the first quarter worth about $207,000.

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.