Comerica Bank Buys Shares of 41,791 Concentra Group Holdings Parent, Inc. (NYSE:CON)

Comerica Bank purchased a new position in Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 41,791 shares of the company's stock, valued at approximately $827,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CON. Price T Rowe Associates Inc. MD increased its holdings in shares of Concentra Group Holdings Parent by 450.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,340,387 shares of the company's stock worth $342,994,000 after purchasing an additional 14,188,333 shares during the period. Vanguard Group Inc. increased its holdings in shares of Concentra Group Holdings Parent by 421.0% in the fourth quarter. Vanguard Group Inc. now owns 12,322,623 shares of the company's stock worth $243,741,000 after purchasing an additional 9,957,396 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Concentra Group Holdings Parent by 164.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,610,562 shares of the company's stock worth $170,317,000 after purchasing an additional 5,351,343 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Concentra Group Holdings Parent in the fourth quarter worth $65,746,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Concentra Group Holdings Parent by 57.8% in the fourth quarter. JPMorgan Chase & Co. now owns 3,245,943 shares of the company's stock worth $64,205,000 after purchasing an additional 1,188,585 shares during the period.

Wall Street Analyst Weigh In

CON has been the topic of several research analyst reports. Bank of America upped their price target on shares of Concentra Group Holdings Parent from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. upped their target price on shares of Concentra Group Holdings Parent from $29.00 to $30.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 19th. Royal Bank of Canada reiterated an "outperform" rating and issued a $30.00 target price on shares of Concentra Group Holdings Parent in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company cut their target price on shares of Concentra Group Holdings Parent from $27.00 to $25.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Concentra Group Holdings Parent presently has an average rating of "Buy" and an average target price of $28.50.

Concentra Group Holdings Parent Trading Down 0.6%

NYSE CON traded down $0.15 during trading on Friday, hitting $22.68. 664,361 shares of the company's stock traded hands, compared to its average volume of 770,821. The stock has a fifty day moving average of $21.18 and a two-hundred day moving average of $21.35. The company has a debt-to-equity ratio of 5.20, a current ratio of 1.52 and a quick ratio of 1.52. Concentra Group Holdings Parent, Inc. has a 12-month low of $18.89 and a 12-month high of $24.81. The firm has a market cap of $2.89 billion and a P/E ratio of 16.92.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $500.80 million for the quarter, compared to analysts' expectations of $496.06 million. During the same quarter in the previous year, the company earned $0.47 earnings per share. The business's quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts expect that Concentra Group Holdings Parent, Inc. will post 1.47 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Tuesday, May 20th. Concentra Group Holdings Parent's dividend payout ratio (DPR) is 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.