Norges Bank Acquires Shares of 1,494,406 Concentra Group Holdings Parent, Inc. $CON

Norges Bank bought a new position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 1,494,406 shares of the company’s stock, valued at approximately $30,740,000.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Concentra Group Holdings Parent by 3.0% in the second quarter. JPMorgan Chase & Co. now owns 3,428,834 shares of the company’s stock valued at $70,531,000 after buying an additional 99,989 shares in the last quarter. Geode Capital Management LLC grew its stake in Concentra Group Holdings Parent by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,612,000 shares of the company’s stock valued at $53,736,000 after acquiring an additional 77,185 shares during the last quarter. 8 Knots Management LLC grew its stake in Concentra Group Holdings Parent by 10.6% in the 1st quarter. 8 Knots Management LLC now owns 1,932,890 shares of the company’s stock valued at $41,944,000 after acquiring an additional 184,607 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Concentra Group Holdings Parent by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,561,997 shares of the company’s stock valued at $33,895,000 after acquiring an additional 20,592 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC raised its position in Concentra Group Holdings Parent by 5.2% during the first quarter. Cramer Rosenthal Mcglynn LLC now owns 1,500,717 shares of the company’s stock worth $32,566,000 after acquiring an additional 73,515 shares during the last quarter.

Concentra Group Holdings Parent Stock Performance

Shares of CON opened at $19.47 on Monday. The company has a debt-to-equity ratio of 4.10, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.21 and a beta of 0.70. The company’s 50 day simple moving average is $20.16 and its 200 day simple moving average is $20.94. Concentra Group Holdings Parent, Inc. has a 1 year low of $18.55 and a 1 year high of $24.17.

Concentra Group Holdings Parent (NYSE:CON) last released its earnings results on Tuesday, November 12th. The company reported $0.37 EPS for the quarter. The firm had revenue of $489.64 million during the quarter. Concentra Group Holdings Parent had a net margin of 7.33% and a return on equity of 48.42%. On average, sell-side analysts predict that Concentra Group Holdings Parent, Inc. will post 1.47 EPS for the current year.

Concentra Group Holdings Parent Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, December 2nd will be given a $0.0625 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.3%. Concentra Group Holdings Parent’s payout ratio is currently 20.83%.

Analysts Set New Price Targets

CON has been the topic of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Concentra Group Holdings Parent in a research report on Wednesday, October 8th. Zacks Research lowered Concentra Group Holdings Parent from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 25th. Finally, JPMorgan Chase & Co. began coverage on Concentra Group Holdings Parent in a report on Thursday, September 18th. They set an “overweight” rating and a $31.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Concentra Group Holdings Parent has an average rating of “Moderate Buy” and an average target price of $27.75.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent, Inc provides occupational health services in the United States. The company offers occupational and consumer health services, including workers’ compensation injury care, urgent care, clinical testing, preventative care, and employer services, as well as wellness programs through occupational health centers and onsite clinics.