Equitable Trust Co. Makes New $4.86 Million Investment in Concentra Group Holdings Parent, Inc. (NYSE:CON)

Key Points

• Equitable Trust Co. invested approximately $4.86 million in Concentra Group Holdings Parent, purchasing 223,881 shares during the first quarter.
• Concentra Group Holdings Parent reported a 7.1% year-over-year revenue increase for the last quarter, posting $500.80 million in revenue and earnings of $0.32 EPS, beating forecasts.
• The company announced a quarterly dividend of $0.0625, reflecting a yield of 1.27% and a payout ratio of 18.66%.

Equitable Trust Co. purchased a new position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 223,881 shares of the company's stock, valued at approximately $4,858,000. Equitable Trust Co. owned about 0.18% of Concentra Group Holdings Parent at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CON. Price T Rowe Associates Inc. MD grew its holdings in shares of Concentra Group Holdings Parent by 450.1% during 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 last quarter. Vanguard Group Inc. grew its holdings in shares of Concentra Group Holdings Parent by 421.0% during 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 last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Concentra Group Holdings Parent by 164.2% during 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 last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Concentra Group Holdings Parent during the fourth quarter worth about $65,746,000. Finally, Norges Bank bought a new stake in shares of Concentra Group Holdings Parent during the fourth quarter worth about $46,270,000.

Concentra Group Holdings Parent Stock Performance

NYSE:CON opened at $19.66 on Friday. The stock's 50-day moving average is $20.99 and its 200-day moving average is $21.48. Concentra Group Holdings Parent, Inc. has a 1-year low of $18.89 and a 1-year high of $24.81. The stock has a market cap of $2.52 billion and a P/E ratio of 14.67. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 5.18.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. Concentra Group Holdings Parent had a return on equity of 29.94% and a net margin of 8.09%. The business had revenue of $500.80 million for the quarter, compared to analysts' expectations of $496.06 million. During the same period in the prior year, the business posted $0.47 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. Equities research analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.47 earnings per share for the current year.

Concentra Group Holdings Parent Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Tuesday, May 20th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Tuesday, May 20th. Concentra Group Holdings Parent's payout ratio 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.

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