Norges Bank Takes Position in Concentra Group Holdings Parent, Inc. $CON

Norges Bank acquired a new stake in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,205,467 shares of the company’s stock, valued at approximately $43,404,000.

Several other large investors also recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Concentra Group Holdings Parent by 1.3% during the 2nd quarter. State Street Corp now owns 4,271,442 shares of the company’s stock worth $87,864,000 after acquiring an additional 52,882 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Concentra Group Holdings Parent by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company’s stock worth $81,089,000 after acquiring an additional 445,449 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Concentra Group Holdings Parent by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company’s stock worth $56,130,000 after acquiring an additional 19,122 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Concentra Group Holdings Parent by 142.7% during the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company’s stock worth $57,484,000 after acquiring an additional 1,614,988 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC boosted its stake in shares of Concentra Group Holdings Parent by 14.7% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 2,091,448 shares of the company’s stock worth $43,774,000 after acquiring an additional 267,670 shares in the last quarter.

Concentra Group Holdings Parent Stock Performance

Shares of Concentra Group Holdings Parent stock opened at $25.47 on Tuesday. The stock has a market cap of $3.26 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.15 and a beta of 0.82. The business has a fifty day simple moving average of $23.58 and a 200-day simple moving average of $22.22. 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, Inc. has a 12 month low of $18.55 and a 12 month high of $26.66.

Concentra Group Holdings Parent (NYSE:CON) last issued its earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $569.56 million during the quarter, compared to analysts’ expectations of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.Concentra Group Holdings Parent’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. On average, sell-side analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.53 EPS for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial reissued a “buy” rating and set a $31.00 price objective (up from $29.00) on shares of Concentra Group Holdings Parent in a research note on Monday, May 11th. The Goldman Sachs Group assumed coverage on shares of Concentra Group Holdings Parent in a report on Friday. They issued a “buy” rating and a $30.00 target price for the company. 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 report on Thursday, March 5th. Finally, Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.20.

Insider Transactions 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 on Monday, June 1st. The stock was sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the completion of the sale, the director owned 763,455 shares of the company’s stock, valued at approximately $19,086,375. This trade represents a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.

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.