Concentra Group Holdings Parent (NYSE:CON) Sets New 1-Year High After Dividend Announcement

Concentra Group Holdings Parent, Inc. (NYSE:CON) shares reached a new 52-week high during trading on Wednesday after the company announced a dividend. The company traded as high as $41.71 and last traded at $41.4050, with a volume of 572,167 shares trading hands. The stock had previously closed at $40.15.

The newly announced dividend which will be paid on Friday, December 4th. Shareholders of record on Thursday, November 19th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.25 dividend on an annualized basis and a yield of 0.6%. Concentra Group Holdings Parent’s payout ratio is presently 16.13%.

Analyst Upgrades and Downgrades

CON has been the topic of several recent research reports. Weiss Ratings upgraded Concentra Group Holdings Parent from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. lifted their price target on Concentra Group Holdings Parent from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, September 10th. Zacks Research upgraded Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 31st. Truist Financial increased their price objective on Concentra Group Holdings Parent from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Royal Bank Of Canada raised their target price on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat.com, Concentra Group Holdings Parent has an average rating of “Buy” and a consensus price target of $41.29.

Concentra Group Holdings Parent Stock Down 0.0%

The stock’s fifty day moving average is $36.86 and its two-hundred day moving average is $28.89. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 3.22. The firm has a market cap of $5.37 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51.

Concentra Group Holdings Parent (NYSE:CON) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.08. Concentra Group Holdings Parent had a return on equity of 47.81% and a net margin of 8.69%. The business had revenue of $622.12 million during the quarter, compared to analysts’ expectations of $605.52 million. During the same quarter last year, the business posted $0.39 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.65 earnings per share for the current year.

Institutional Trading of Concentra Group Holdings Parent

A number of hedge funds have recently modified their holdings of CON. Allworth Financial LP boosted its position in Concentra Group Holdings Parent by 70.3% during the second quarter. Allworth Financial LP now owns 1,010 shares of the company’s stock valued at $30,000 after purchasing an additional 417 shares during the last quarter. Fulcrum Asset Management LLP acquired a new position in Concentra Group Holdings Parent in the 3rd quarter worth about $35,000. Integrated Wealth Concepts LLC acquired a new position in Concentra Group Holdings Parent in the 2nd quarter worth about $38,000. Heritage Family Offices LLP purchased a new stake in shares of Concentra Group Holdings Parent during the 3rd quarter worth about $57,000. Finally, Nykredit A S purchased a new stake in shares of Concentra Group Holdings Parent during the 2nd quarter worth about $60,000.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent, Inc is the parent company of Concentra, a provider of occupational health services in the United States. The company primarily serves employers, workers and insurers through a nationwide network of medical centers and employer-based clinics.

Concentra’s services include workplace injury care, workers’ compensation treatment, physical examinations, drug and alcohol testing, vaccinations, physical therapy, urgent care and other occupational medicine programs.