Bank of New York Mellon Corp Has $13.94 Million Stake in Concentra Group Holdings Parent, Inc. (NYSE:CON)

Bank of New York Mellon Corp raised its position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) by 1,339.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 704,618 shares of the company’s stock after acquiring an additional 655,669 shares during the period. Bank of New York Mellon Corp owned approximately 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 also recently made changes to their positions in the business. South Dakota Investment Council bought a new stake in Concentra Group Holdings Parent during the 4th quarter valued at approximately $1,570,000. Leuthold Group LLC acquired a new position in shares of Concentra Group Holdings Parent during the fourth quarter worth approximately $1,488,000. Handelsbanken Fonder AB bought a new stake in shares of Concentra Group Holdings Parent in the fourth quarter valued at approximately $375,000. Alberta Investment Management Corp acquired a new stake in shares of Concentra Group Holdings Parent in the fourth quarter worth $220,000. Finally, New York State Common Retirement Fund increased its position in Concentra Group Holdings Parent by 1,736.3% during the fourth quarter. New York State Common Retirement Fund now owns 33,053 shares of the company’s stock worth $654,000 after acquiring an additional 31,253 shares during the period.

Concentra Group Holdings Parent Stock Performance

NYSE CON opened at $20.65 on Thursday. Concentra Group Holdings Parent, Inc. has a twelve month low of $18.89 and a twelve month high of $24.81. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 5.20. The stock has a market cap of $2.63 billion and a P/E ratio of 13.67. The company’s 50-day simple moving average is $22.15 and its 200 day simple moving average is $21.68.

Concentra Group Holdings Parent (NYSE:CON) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $465.00 million during the quarter, compared to the consensus estimate of $465.00 million. As a group, research analysts forecast that Concentra Group Holdings Parent, Inc. will post 1.47 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is 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 payout ratio is presently 16.56%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. 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 for the company in a report on Wednesday. Bank of America increased their target price on shares of 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $30.00 price target on shares of Concentra Group Holdings Parent in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Concentra Group Holdings Parent currently has an average rating of “Buy” and a consensus price target of $28.38.

About Concentra Group Holdings Parent

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.