Key Points
- Director Robert Ortenzio sold 130,000 shares of Concentra Group Holdings Parent (NYSE:CON) at an average price of $25.00, totaling about $3.25 million. The sale was disclosed in an SEC filing and was made under a pre-arranged Rule 10b5-1 trading plan.
- The company recently reported strong quarterly results, with EPS of $0.40 beating estimates of $0.35 and revenue of $569.56 million exceeding expectations. Revenue rose 13.7% year over year, and analysts now expect full-year EPS of 1.53.
- Analysts remain generally positive on CON, with five Buy ratings and one Hold rating, and a consensus target price of $30.25. The stock also trades near $25.06, while the company announced a quarterly dividend of $0.0625 per share, yielding about 1.0%.
Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) Director Robert Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.00, for a total value of $3,250,000.00. Following the completion of the transaction, the director owned 763,455 shares of the company's stock, valued at approximately $19,086,375. This represents a 14.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Concentra Group Holdings Parent Trading Down 0.8%
CON opened at $25.06 on Wednesday. The firm has a market cap of $3.21 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.14 and a beta of 0.82. Concentra Group Holdings Parent, Inc. has a 12 month low of $18.55 and a 12 month high of $26.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. The stock has a 50-day moving average of $23.26 and a 200 day moving average of $22.02.
Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last released 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. The company had revenue of $569.56 million during the quarter, compared to analyst estimates of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The firm's revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $0.32 earnings per share. As a group, research analysts forecast that Concentra Group Holdings Parent, Inc. will post 1.53 EPS for the current year.
Concentra Group Holdings Parent Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be given a $0.0625 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $0.25 annualized dividend and a yield of 1.0%. Concentra Group Holdings Parent's dividend payout ratio (DPR) is currently 17.99%.
Analysts Set New Price Targets
Several brokerages have issued reports on CON. Weiss Ratings upgraded Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Truist Financial restated a "buy" rating and set a $31.00 target price (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. Finally, Wells Fargo & Company boosted their target price on Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Thursday, March 5th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Concentra Group Holdings Parent presently has an average rating of "Moderate Buy" and a consensus target price of $30.25.
Get Our Latest Analysis on CON
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in shares of 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 buying an additional 663 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of Concentra Group Holdings Parent by 2,784.0% during 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 during the period. Public Employees Retirement System of Ohio boosted 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 purchasing an additional 528 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Concentra Group Holdings Parent in the fourth quarter valued at approximately $35,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of Concentra Group Holdings Parent by 59.5% in the second 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 period.
About Concentra Group Holdings Parent
(
Get Free Report)
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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