Concentra Group Holdings Parent, Inc. (NYSE:CON) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $30.20.

Several research firms recently issued reports on CON. The Goldman Sachs Group assumed coverage on shares of Concentra Group Holdings Parent in a research note on Friday, June 5th. They issued a “buy” rating and a $30.00 price objective for the company. Weiss Ratings raised shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. William Blair initiated coverage on Concentra Group Holdings Parent in a report on Wednesday, July 1st. They set an “outperform” rating on the stock. Finally, Truist Financial reaffirmed a “buy” rating and issued a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th.

Concentra Group Holdings Parent Stock Up 0.0%

Shares of Concentra Group Holdings Parent stock opened at $31.46 on Friday. The stock has a 50-day moving average price of $26.98 and a 200 day moving average price of $23.76. The company has a market cap of $4.03 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.43 and a beta of 0.64. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent has a 1 year low of $18.55 and a 1 year high of $32.35.

Concentra Group Holdings Parent (NYSE:CON) last released its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping 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 company had revenue of $569.55 million during the quarter, compared to the consensus estimate of $553.53 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s revenue was up 13.7% compared to the same quarter last year. As a group, analysts expect that Concentra Group Holdings Parent will post 1.52 EPS for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were paid 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 payout ratio is presently 17.99%.

Insider Buying and Selling at Concentra Group Holdings Parent

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $30.50, for a total value of $3,965,000.00. Following the sale, the director directly owned 633,455 shares in the company, valued at $19,320,377.50. This trade represents a 17.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 390,000 shares of company stock valued at $10,465,000 over the last three months. 8.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Concentra Group Holdings Parent

Several institutional investors have recently made changes to their positions in the business. State Street Corp boosted its holdings in Concentra Group Holdings Parent by 0.5% during the fourth quarter. State Street Corp now owns 4,446,551 shares of the company’s stock valued at $87,508,000 after purchasing 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 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company’s stock worth $81,089,000 after buying an additional 445,449 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Concentra Group Holdings Parent by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company’s stock worth $66,645,000 after buying an additional 144,379 shares in the last quarter. Geode Capital Management LLC lifted its position 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 buying an additional 19,122 shares during the period. Finally, Woodline Partners LP lifted its position 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 buying an additional 1,614,988 shares during the period.

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.