Louisiana State Employees Retirement System Purchases New Position in Concentra Group Holdings Parent, Inc. $CON

Key Points

• Louisiana State Employees Retirement System opened a new position in Concentra Group Holdings Parent during the first quarter, buying 52,900 shares valued at about $1.135 million.
• Concentra reported strong quarterly results, with EPS of $0.40 beating estimates and revenue of $569.55 million topping forecasts, while revenue rose 13.7% year over year.
• The stock has drawn bullish analyst coverage: seven analysts rate it a Buy, the average target price is $30.20, and the company also recently paid a quarterly dividend of $0.0625 per share.

Louisiana State Employees Retirement System acquired a new position in Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 52,900 shares of the company's stock, valued at approximately $1,135,000.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Concentra Group Holdings Parent by 124.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company's stock worth $25,000 after buying an additional 663 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Concentra Group Holdings Parent by 2,784.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company's stock valued at $30,000 after buying an additional 1,392 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Concentra Group Holdings Parent by 49.1% in the third quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company's stock valued at $34,000 after acquiring an additional 528 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Concentra Group Holdings Parent in the fourth quarter valued at about $35,000. Finally, Osaic Holdings Inc. lifted its stake in Concentra Group Holdings Parent by 59.5% in 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 period.

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 dated Monday, June 1st. The stock was sold at an average price of $25.00, for a total value of $3,250,000.00. Following the completion of the sale, the director directly owned 763,455 shares in the company, valued at approximately $19,086,375. This trade represents a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by corporate insiders.

Concentra Group Holdings Parent Price Performance

Shares of CON opened at $31.82 on Friday. The company has a 50 day moving average of $26.27 and a two-hundred day moving average of $23.39. 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 twelve month low of $18.55 and a twelve month high of $31.93. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) 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 business had revenue of $569.55 million for the quarter, compared to the consensus estimate of $553.53 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The business's quarterly revenue was up 13.7% on a year-over-year basis. As a group, analysts predict that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Concentra Group Holdings Parent's dividend payout ratio is currently 17.99%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CON. The Goldman Sachs Group initiated coverage on shares of Concentra Group Holdings Parent in a report on Friday, June 5th. They set a "buy" rating and a $30.00 target price on the stock. William Blair assumed coverage on shares of Concentra Group Holdings Parent in a report on Wednesday. They issued an "outperform" rating for the company. Weiss Ratings raised shares of Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Finally, Truist Financial reiterated a "buy" rating and set a $31.00 price objective (up from $29.00) on shares of Concentra Group Holdings Parent in a research note on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Concentra Group Holdings Parent currently has an average rating of "Moderate Buy" and an average target price of $30.20.

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.

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