M&T Bank Corp Increases Holdings in Concentra Group Holdings Parent, Inc. (NYSE:CON)

M&T Bank Corp lifted its position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) by 16.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,890 shares of the company’s stock after acquiring an additional 4,428 shares during the quarter. M&T Bank Corp’s holdings in Concentra Group Holdings Parent were worth $692,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC purchased a new stake in Concentra Group Holdings Parent in the 4th quarter valued at approximately $30,000. Shell Asset Management Co. purchased a new stake in Concentra Group Holdings Parent in the 4th quarter valued at approximately $48,000. Covestor Ltd purchased a new stake in Concentra Group Holdings Parent in the 4th quarter valued at approximately $81,000. CX Institutional purchased a new stake in Concentra Group Holdings Parent in the 1st quarter valued at approximately $110,000. Finally, PNC Financial Services Group Inc. purchased a new stake in Concentra Group Holdings Parent in the 4th quarter valued at approximately $117,000.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price target on Concentra Group Holdings Parent from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, March 19th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $28.50.

Concentra Group Holdings Parent Stock Down 1.9%

Shares of NYSE CON opened at $19.84 on Wednesday. Concentra Group Holdings Parent, Inc. has a 1 year low of $18.89 and a 1 year high of $24.81. The firm has a market cap of $2.54 billion and a price-to-earnings ratio of 14.81. The company has a debt-to-equity ratio of 5.18, a quick ratio of 1.10 and a current ratio of 1.10. The stock’s 50-day simple moving average is $21.25 and its 200-day simple moving average is $21.49.

Concentra Group Holdings Parent (NYSE:CON) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $500.80 million during the quarter, compared to analyst estimates of $496.06 million. Concentra Group Holdings Parent had a net margin of 8.09% and a return on equity of 29.94%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. As a group, equities analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.47 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Tuesday, May 20th. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is presently 18.66%.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent, Inc provides occupational health services in the United States. The company offers occupational and consumer health services, including workers’ compensation injury care, urgent care, clinical testing, preventative care, and employer services, as well as wellness programs through occupational health centers and onsite clinics.