Concentra Group Holdings Parent, Inc. $CON Position Boosted by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in Concentra Group Holdings Parent, Inc. (NYSE:CON) by 5,194.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,861 shares of the company’s stock after purchasing an additional 38,127 shares during the period. Fifth Third Bancorp’s holdings in Concentra Group Holdings Parent were worth $834,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in Concentra Group Holdings Parent by 124.6% during the second 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 increased its holdings 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 valued at $30,000 after buying an additional 1,392 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Concentra Group Holdings Parent by 49.1% in the third quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock valued at $34,000 after buying an additional 528 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Concentra Group Holdings Parent during the 4th quarter valued at $35,000. Finally, Osaic Holdings Inc. lifted its position in shares of 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 acquiring an additional 761 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CON. The Goldman Sachs Group started coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They issued a “buy” rating and a $30.00 target price on the stock. William Blair initiated coverage on Concentra Group Holdings Parent in a report on Wednesday, July 1st. They set an “outperform” rating for the company. Truist Financial increased their price target on Concentra Group Holdings Parent from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings raised Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.40.

Insider Activity

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

Concentra Group Holdings Parent Price Performance

Shares of CON opened at $31.61 on Monday. The business’s 50-day moving average is $28.55 and its 200-day moving average is $24.65. 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 company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 1.44 and a beta of 0.64. Concentra Group Holdings Parent, Inc. has a fifty-two week low of $18.55 and a fifty-two week high of $32.51.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, topping 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 business had revenue of $569.55 million during the quarter, compared to analysts’ expectations of $553.53 million. During the same period last year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. Equities research analysts expect that Concentra Group Holdings Parent, Inc. will post 1.52 EPS for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The business also recently announced 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 yield of 0.8%. Concentra Group Holdings Parent’s dividend payout ratio is presently 17.99%.

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.