Raymond James & Associates Decreases Position in Main Street Capital Co. (NYSE:MAIN)

Raymond James & Associates lessened its holdings in Main Street Capital Co. (NYSE:MAIN) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 47,250 shares of the financial services provider’s stock after selling 1,122 shares during the quarter. Raymond James & Associates’ holdings in Main Street Capital were worth $2,043,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Main Street Capital by 2.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,425,606 shares of the financial services provider’s stock worth $135,175,000 after purchasing an additional 72,880 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in Main Street Capital by 2.1% in the third quarter. Burgundy Asset Management Ltd. now owns 1,020,535 shares of the financial services provider’s stock valued at $41,464,000 after acquiring an additional 21,085 shares during the last quarter. Van ECK Associates Corp lifted its position in Main Street Capital by 12.4% in the third quarter. Van ECK Associates Corp now owns 805,063 shares of the financial services provider’s stock valued at $32,709,000 after acquiring an additional 88,802 shares during the last quarter. Morgan Stanley lifted its position in Main Street Capital by 4.8% in the third quarter. Morgan Stanley now owns 795,511 shares of the financial services provider’s stock valued at $32,322,000 after acquiring an additional 36,668 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Main Street Capital by 1.4% in the third quarter. Legal & General Group Plc now owns 588,490 shares of the financial services provider’s stock valued at $23,902,000 after acquiring an additional 8,091 shares during the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MAIN. UBS Group boosted their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Royal Bank of Canada lifted their price objective on shares of Main Street Capital from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Oppenheimer lifted their price objective on shares of Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. B. Riley lowered shares of Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Monday, January 8th. Finally, Truist Financial lifted their price objective on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, February 26th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $45.50.

Main Street Capital Stock Up 0.2 %

MAIN stock opened at $46.77 on Wednesday. The company has a market cap of $3.97 billion, a P/E ratio of 8.96 and a beta of 1.29. Main Street Capital Co. has a 52 week low of $37.70 and a 52 week high of $47.82. The company’s 50-day moving average price is $46.00 and its 200 day moving average price is $43.33. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.14.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The firm had revenue of $129.31 million for the quarter, compared to the consensus estimate of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. On average, research analysts expect that Main Street Capital Co. will post 4.07 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 20th were issued a $0.30 dividend. This represents a dividend yield of 8.37%. The ex-dividend date was Tuesday, March 19th. This is an increase from Main Street Capital’s previous dividend of $0.24. Main Street Capital’s dividend payout ratio is 55.17%.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.