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

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

Several other hedge funds have also made changes to their positions in CON. Moran Wealth Management LLC bought a new position in Concentra Group Holdings Parent during the 1st quarter worth $288,000. Counterpoint Mutual Funds LLC bought a new stake in Concentra Group Holdings Parent in the first quarter valued at $274,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Concentra Group Holdings Parent during the first quarter valued at $295,000. Janney Montgomery Scott LLC boosted its holdings in shares of Concentra Group Holdings Parent by 20.2% during the first quarter. Janney Montgomery Scott LLC now owns 12,048 shares of the company’s stock valued at $258,000 after acquiring an additional 2,022 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Concentra Group Holdings Parent during the first quarter valued at $1,135,000.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Robert A. Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $30.50, for a total transaction of $3,965,000.00. Following the transaction, the director directly owned 633,455 shares in the company, valued at approximately $19,320,377.50. This trade represents a 17.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 390,000 shares of company stock worth $10,465,000. 8.10% of the stock is currently owned by company insiders.

Concentra Group Holdings Parent Trading Down 0.0%

Shares of NYSE:CON opened at $31.61 on Monday. The company has a 50 day moving average of $28.55 and a 200-day moving average of $24.65. The firm has a market cap of $4.04 billion, a P/E 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 twelve month low of $18.55 and a twelve month high of $32.51. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $553.53 million. During the same quarter last year, the business earned $0.32 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Concentra Group Holdings Parent’s dividend payout ratio (DPR) 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.