Bank of New York Mellon Corp Boosts Stock Holdings in Concentra Group Holdings Parent, Inc. (NYSE:CON)

Bank of New York Mellon Corp lifted its position in Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) by 1,339.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 704,618 shares of the company's stock after buying an additional 655,669 shares during the period. Bank of New York Mellon Corp owned about 0.55% of Concentra Group Holdings Parent worth $13,937,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CON. Oppenheimer Asset Management Inc. bought a new position in Concentra Group Holdings Parent during the third quarter valued at approximately $675,000. Massachusetts Financial Services Co. MA bought a new position in Concentra Group Holdings Parent during the third quarter valued at approximately $36,672,000. Charles Schwab Investment Management Inc. bought a new position in Concentra Group Holdings Parent during the third quarter valued at approximately $4,244,000. Loomis Sayles & Co. L P bought a new position in Concentra Group Holdings Parent during the third quarter valued at approximately $8,676,000. Finally, The Manufacturers Life Insurance Company bought a new position in Concentra Group Holdings Parent during the third quarter valued at approximately $208,000.

Concentra Group Holdings Parent Price Performance

Shares of NYSE CON traded up $0.13 during midday trading on Friday, reaching $20.77. The stock had a trading volume of 706,210 shares, compared to its average volume of 743,901. The stock has a 50-day moving average of $22.22 and a 200-day moving average of $21.64. The company has a debt-to-equity ratio of 5.20, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $2.64 billion and a price-to-earnings ratio of 13.75. Concentra Group Holdings Parent, Inc. has a 12-month low of $18.89 and a 12-month high of $24.81.

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Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. The firm had revenue of $465.00 million during the quarter, compared to analysts' expectations of $465.00 million. As a group, research analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.47 EPS for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.0625 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.20%. Concentra Group Holdings Parent's dividend payout ratio (DPR) is presently 16.56%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CON. Wells Fargo & Company lowered their price objective on shares of Concentra Group Holdings Parent from $27.00 to $25.00 and set an "overweight" rating on the stock in a research report on Wednesday. Bank of America increased their price target on shares of Concentra Group Holdings Parent from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $30.00 price target on shares of Concentra Group Holdings Parent in a research report on Thursday, January 23rd. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $28.38.

Concentra Group Holdings Parent 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.