Comerica Bank Purchases New Stake in Concentra Group Holdings Parent, Inc. (NYSE:CON)

Comerica Bank purchased a new stake in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) in the fourth quarter, Holdings Channel reports. The firm purchased 41,791 shares of the company’s stock, valued at approximately $827,000.

Several other institutional investors have also recently bought and sold shares of CON. Smartleaf Asset Management LLC bought a new position in shares of Concentra Group Holdings Parent in the fourth quarter valued at $25,000. Quadrant Capital Group LLC bought a new position in Concentra Group Holdings Parent in the 4th quarter valued at about $30,000. Motco bought a new position in Concentra Group Holdings Parent in the 4th quarter valued at about $32,000. Empowered Funds LLC acquired a new position in Concentra Group Holdings Parent during the 4th quarter valued at about $49,000. Finally, Nisa Investment Advisors LLC bought a new stake in Concentra Group Holdings Parent during the 4th quarter worth approximately $59,000.

Concentra Group Holdings Parent Stock Down 1.1%

Shares of NYSE:CON opened at $21.39 on Wednesday. Concentra Group Holdings Parent, Inc. has a 1 year low of $18.89 and a 1 year high of $24.81. The company has a market capitalization of $2.72 billion and a PE ratio of 15.96. The business has a fifty day moving average price of $21.15 and a two-hundred day moving average price of $21.32. 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 (NYSE:CON) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $500.80 million during the quarter, compared to analysts’ expectations of $496.06 million. Concentra Group Holdings Parent’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. Analysts forecast that Concentra Group Holdings Parent, Inc. will post 1.47 earnings per share for the current year.

Concentra Group Holdings Parent Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Tuesday, May 20th. Concentra Group Holdings Parent’s dividend payout ratio is currently 18.66%.

Wall Street Analysts Forecast Growth

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