Hsbc Holdings PLC Takes Position in Concentra Group Holdings Parent, Inc. $CON

Hsbc Holdings PLC bought a new stake in Concentra Group Holdings Parent, Inc. (NYSE:CON) during the 4th quarter, HoldingsChannel.com reports. The fund bought 42,927 shares of the company’s stock, valued at approximately $848,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in Concentra Group Holdings Parent by 124.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock valued at $25,000 after purchasing an additional 663 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Concentra Group Holdings Parent by 2,784.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock worth $30,000 after purchasing an additional 1,392 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Concentra Group Holdings Parent by 49.1% during the third quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock worth $34,000 after purchasing an additional 528 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Concentra Group Holdings Parent during the fourth quarter worth about $35,000. Finally, Osaic Holdings Inc. boosted its position in Concentra Group Holdings Parent by 59.5% in the second quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock valued at $42,000 after buying an additional 761 shares during the last quarter.

Concentra Group Holdings Parent Price Performance

NYSE:CON opened at $30.88 on Wednesday. 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 $3.95 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 1.43 and a beta of 0.64. The company has a 50 day moving average price of $27.50 and a 200-day moving average price of $24.00. Concentra Group Holdings Parent, Inc. has a 1-year low of $18.55 and a 1-year high of $32.35.

Concentra Group Holdings Parent (NYSE:CON) last posted its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $569.55 million during the quarter, compared to analysts’ expectations of $553.53 million. During the same period in the previous year, the business posted $0.32 EPS. 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 1.52 EPS for the current year.

Concentra Group Holdings Parent Announces Dividend

The company 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. The ex-dividend date was Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. Concentra Group Holdings Parent’s dividend payout ratio is 17.99%.

Insider Buying and Selling at Concentra Group Holdings Parent

In other news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $30.50, for a total transaction of $3,965,000.00. Following the sale, the director directly owned 633,455 shares of the company’s stock, valued at $19,320,377.50. This represents a 17.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 390,000 shares of company stock valued at $10,465,000 in the last three months. Corporate insiders own 8.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Concentra Group Holdings Parent in a research report on Friday, June 5th. They set a “buy” rating and a $30.00 price target for the company. Truist Financial upped their price objective on shares of Concentra Group Holdings Parent from $31.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, William Blair began coverage on shares of Concentra Group Holdings Parent in a report on Wednesday, July 1st. They set an “outperform” rating for the company. Seven 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.40.

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.