First Eagle Investment Management LLC Increases Stake in Concentra Group Holdings Parent, Inc. $CON

Key Points

• First Eagle Investment Management increased its stake in Concentra Group Holdings Parent by 18.4% in the fourth quarter, buying 59,500 additional shares and bringing its total holding to 383,206 shares worth about $7.54 million.
• Concentra reported better-than-expected quarterly results, posting earnings of $0.40 per share versus the $0.35 estimate and revenue of $569.56 million, up 13.7% year over year.
• Analysts remain constructive on the stock, with five Buy ratings and one Hold, and a consensus target price of $30.25; Truist recently lifted its target to $31 and reiterated a Buy rating.

First Eagle Investment Management LLC raised its position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) by 18.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 383,206 shares of the company's stock after buying an additional 59,500 shares during the period. First Eagle Investment Management LLC owned about 0.30% of Concentra Group Holdings Parent worth $7,541,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CON. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Concentra Group Holdings Parent during the 3rd quarter valued at $35,124,000. Woodline Partners LP boosted its position in Concentra Group Holdings Parent by 142.7% during the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company's stock valued at $57,484,000 after buying an additional 1,614,988 shares during the period. Thrivent Financial for Lutherans boosted its position in Concentra Group Holdings Parent by 41.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,245,778 shares of the company's stock valued at $67,934,000 after buying an additional 945,303 shares during the period. JPMorgan Chase & Co. boosted its position in Concentra Group Holdings Parent by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company's stock valued at $81,089,000 after buying an additional 445,449 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Concentra Group Holdings Parent by 48.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,329,498 shares of the company's stock valued at $28,850,000 after buying an additional 434,503 shares during the period.

Insider Transactions at Concentra Group Holdings Parent

In related news, Director Robert A. Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction dated Friday, May 8th. The shares were 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 893,455 shares of the company's stock, valued at $22,336,375. This trade represents a 12.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CON has been the subject of several analyst reports. Truist Financial reissued 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. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. Wells Fargo & Company upped their price objective on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. Finally, Royal Bank Of Canada upped their price objective on shares of Concentra Group Holdings Parent from $30.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, February 2nd. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $30.25.

Concentra Group Holdings Parent Stock Up 2.3%

CON stock opened at $25.57 on Wednesday. Concentra Group Holdings Parent, Inc. has a fifty-two week low of $18.55 and a fifty-two week high of $25.68. The business's 50 day moving average price is $22.48 and its two-hundred day moving average price is $21.46. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.21 and a beta of 0.72.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The firm had revenue of $569.56 million for the quarter, compared to the consensus estimate of $553.53 million. During the same quarter in the prior year, the business earned $0.32 EPS. The business's revenue for the quarter was up 13.7% on a year-over-year basis. As a group, analysts forecast that Concentra Group Holdings Parent, Inc. will post 1.49 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be given 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 17.99%.

Concentra Group Holdings Parent 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.