Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON – Get Free Report) have received a consensus recommendation of “Buy” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $37.00.
A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They issued a “buy” rating and a $30.00 price target for the company. Royal Bank Of Canada increased their price objective on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Concentra Group Holdings Parent in a research report on Friday, August 7th. Wells Fargo & Company boosted their target price on shares of Concentra Group Holdings Parent from $28.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Truist Financial upped their target price on shares of Concentra Group Holdings Parent from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday, August 10th.
View Our Latest Stock Analysis on CON
Concentra Group Holdings Parent Trading Up 0.6%
Concentra Group Holdings Parent (NYSE:CON – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $606.03 million for the quarter, compared to analyst estimates of $591.75 million. Concentra Group Holdings Parent had a return on equity of 47.81% and a net margin of 8.69%.Concentra Group Holdings Parent’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. Equities analysts forecast that Concentra Group Holdings Parent will post 1.6 EPS for the current fiscal year.
Concentra Group Holdings Parent Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Thursday, August 20th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 20th. Concentra Group Holdings Parent’s payout ratio is currently 16.13%.
Insider Activity
In related news, Director Robert A. Ortenzio sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $31.84, for a total transaction of $4,139,200.00. Following the transaction, the director owned 503,455 shares of the company’s stock, valued at approximately $16,030,007.20. This represents a 20.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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
Several institutional investors have recently bought and sold shares of CON. Hussman Strategic Advisors Inc. acquired a new stake in shares of Concentra Group Holdings Parent during the fourth quarter worth $1,240,000. Norges Bank acquired a new position in Concentra Group Holdings Parent in the fourth quarter valued at $43,404,000. First Eagle Investment Management LLC lifted its position in Concentra Group Holdings Parent by 18.4% during the fourth quarter. First Eagle Investment Management LLC now owns 383,206 shares of the company’s stock worth $7,541,000 after buying an additional 59,500 shares during the period. Fox Run Management L.L.C. purchased a new position in Concentra Group Holdings Parent during the fourth quarter worth about $1,089,000. Finally, Louisiana State Employees Retirement System acquired a new stake in Concentra Group Holdings Parent in the 1st quarter worth about $1,135,000.
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.
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