Concentra Group Holdings Parent (NYSE:CON) Given New $37.00 Price Target at Truist Financial

Concentra Group Holdings Parent (NYSE:CON) had its price objective increased by Truist Financial from $31.00 to $37.00 in a research report report published on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. The Goldman Sachs Group started coverage on shares of Concentra Group Holdings Parent in a report on Friday, June 5th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, William Blair started coverage on shares of Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They issued an “outperform” rating for the company. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.40.

Concentra Group Holdings Parent Price Performance

CON stock opened at $30.88 on Tuesday. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26. Concentra Group Holdings Parent has a one year low of $18.55 and a one year high of $32.35. The stock has a market cap of $3.95 billion, a PE ratio of 22.22, a P/E/G ratio of 1.43 and a beta of 0.64. The firm has a 50 day simple moving average of $27.50 and a two-hundred day simple moving average of $24.00.

Concentra Group Holdings Parent (NYSE:CON) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $569.55 million for the quarter, compared to analyst estimates of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, analysts predict that Concentra Group Holdings Parent will post 1.52 EPS for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Concentra Group Holdings Parent’s payout ratio is presently 17.99%.

Insider Buying and Selling

In related news, Director Robert A. Ortenzio sold 130,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director directly owned 633,455 shares in the company, valued at $19,320,377.50. This represents a 17.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 390,000 shares of company stock worth $10,465,000. Corporate insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Concentra Group Holdings Parent

A number of large investors have recently added to or reduced their stakes in CON. EverSource Wealth Advisors LLC increased its position in shares of Concentra Group Holdings Parent by 124.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock valued at $25,000 after acquiring an additional 663 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in Concentra Group Holdings Parent by 2,784.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock valued at $30,000 after purchasing an additional 1,392 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Concentra Group Holdings Parent by 49.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock valued at $34,000 after purchasing an additional 528 shares during the period. Kestra Advisory Services LLC bought a new position in Concentra Group Holdings Parent during the 4th quarter valued at approximately $35,000. Finally, Osaic Holdings Inc. raised its position in Concentra Group Holdings Parent by 59.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock valued at $42,000 after purchasing an additional 761 shares during the last quarter.

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.