Norges Bank Buys New Shares in Concentra Group Holdings Parent, Inc. (NYSE:CON)

Norges Bank purchased a new position in Concentra Group Holdings Parent, Inc. (NYSE:CON) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,339,207 shares of the company’s stock, valued at approximately $46,270,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CON. Charles Schwab Investment Management Inc. purchased a new stake in shares of Concentra Group Holdings Parent during the third quarter worth about $4,244,000. The Manufacturers Life Insurance Company bought a new position in Concentra Group Holdings Parent in the 3rd quarter worth approximately $208,000. BNP Paribas Financial Markets purchased a new stake in Concentra Group Holdings Parent during the 3rd quarter valued at approximately $105,000. MetLife Investment Management LLC bought a new stake in shares of Concentra Group Holdings Parent during the third quarter valued at approximately $297,000. Finally, Verition Fund Management LLC purchased a new position in shares of Concentra Group Holdings Parent in the third quarter worth $661,000.

Concentra Group Holdings Parent Stock Down 6.7 %

Shares of CON opened at $20.58 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 5.20. Concentra Group Holdings Parent, Inc. has a 52-week low of $18.89 and a 52-week high of $24.81. The company has a market cap of $2.62 billion and a PE ratio of 13.63. The business has a fifty day moving average of $22.33 and a 200 day moving average of $21.43.

Concentra Group Holdings Parent (NYSE:CON) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $465.00 million for the quarter, compared to analysts’ expectations of $465.00 million. On average, 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.21%. Concentra Group Holdings Parent’s dividend payout ratio is 16.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CON. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of Concentra Group Holdings Parent in a report on Thursday, January 23rd. Wells Fargo & Company reduced their target price on Concentra Group Holdings Parent from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. JPMorgan Chase & Co. increased their price target on Concentra Group Holdings Parent from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, March 19th. Finally, Bank of America lifted their price objective on Concentra Group Holdings Parent from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Concentra Group Holdings Parent currently has a consensus rating of “Buy” and a consensus price target of $28.50.

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.