Norges Bank Takes $43.40 Million Position in Concentra Group Holdings Parent, Inc. $CON
by Mitch Edgeman · The Markets DailyNorges Bank bought a new stake in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON – Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,205,467 shares of the company’s stock, valued at approximately $43,404,000. Norges Bank owned about 1.72% of Concentra Group Holdings Parent at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund grew its holdings in shares of Concentra Group Holdings Parent by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 27,308 shares of the company’s stock valued at $537,000 after purchasing an additional 500 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Concentra Group Holdings Parent by 49.1% during 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 last quarter. EverSource Wealth Advisors LLC grew 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 worth $25,000 after acquiring an additional 663 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Concentra Group Holdings Parent by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 22,750 shares of the company’s stock worth $448,000 after acquiring an additional 690 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of Concentra Group Holdings Parent by 59.5% during the second quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock worth $42,000 after acquiring an additional 761 shares during the last quarter.
Insider Transactions at Concentra Group Holdings Parent
In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the completion of the transaction, the director directly owned 763,455 shares of the company’s stock, valued at approximately $19,086,375. This trade represents a 14.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.10% of the company’s stock.
Concentra Group Holdings Parent Stock Performance
Shares of CON opened at $25.47 on Tuesday. The firm has a 50-day moving average price of $23.58 and a 200 day moving average price of $22.22. The firm has a market capitalization of $3.26 billion, a PE ratio of 18.32, a P/E/G ratio of 1.15 and a beta of 0.82. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent, Inc. has a 52-week low of $18.55 and a 52-week high of $26.66.
Concentra Group Holdings Parent (NYSE:CON – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $569.56 million during 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%. Concentra Group Holdings Parent’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. On average, sell-side analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.53 earnings per share for the current fiscal year.
Concentra Group Holdings Parent Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, May 19th. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is presently 17.99%.
Analyst Ratings Changes
Several research firms have recently commented on CON. Truist Financial restated a “buy” rating and set a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. The Goldman Sachs Group began coverage on shares of Concentra Group Holdings Parent in a research report on Friday. They set a “buy” rating and a $30.00 price target for the company. Wells Fargo & Company upped their price target on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.20.
Check Out Our Latest Report on Concentra Group Holdings Parent
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.
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