Norges Bank Takes Position in Concentra Group Holdings Parent, Inc. (NYSE:CON)

Norges Bank bought a new position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,339,207 shares of the company's stock, valued at approximately $46,270,000. Norges Bank owned 1.84% of Concentra Group Holdings Parent at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Concentra Group Holdings Parent by 421.0% during the 4th quarter. Vanguard Group Inc. now owns 12,322,623 shares of the company's stock worth $243,741,000 after acquiring an additional 9,957,396 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Concentra Group Holdings Parent during the fourth quarter worth $44,395,000. JPMorgan Chase & Co. purchased a new stake in Concentra Group Holdings Parent during the third quarter worth $46,003,000. Charles Schwab Investment Management Inc. grew its holdings in Concentra Group Holdings Parent by 712.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,541,405 shares of the company's stock valued at $30,489,000 after purchasing an additional 1,351,595 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Concentra Group Holdings Parent by 1,339.5% in the fourth quarter. Bank of New York Mellon Corp now owns 704,618 shares of the company's stock valued at $13,937,000 after buying an additional 655,669 shares in the last quarter.

Concentra Group Holdings Parent Trading Up 6.5 %

Shares of NYSE CON traded up $1.30 during midday trading on Wednesday, reaching $21.13. 687,184 shares of the stock were exchanged, compared to its average volume of 777,514. The stock has a 50 day moving average price of $22.02 and a 200-day moving average price of $21.34. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 5.20. The company has a market capitalization of $2.69 billion and a P/E ratio of 13.99. Concentra Group Holdings Parent, Inc. has a 52-week low of $18.89 and a 52-week high of $24.81.

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Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported $0.17 EPS for the quarter, topping the consensus estimate 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. Equities research analysts expect that Concentra Group Holdings Parent, Inc. will post 1.47 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.25 annualized dividend and a yield of 1.18%. Concentra Group Holdings Parent's payout ratio is currently 16.56%.

Wall Street Analysts Forecast Growth

CON has been the topic of several recent research reports. JPMorgan Chase & Co. boosted 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 research report on Wednesday, March 19th. Wells Fargo & Company reduced their price target on shares of 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. 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. 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 report 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 presently 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.