Perigon Wealth Management LLC Takes $336,000 Position in Main Street Capital Co. (NYSE:MAIN)

Perigon Wealth Management LLC acquired a new stake in shares of Main Street Capital Co. (NYSE:MAIN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,770 shares of the financial services provider’s stock, valued at approximately $336,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Main Street Capital by 11.9% in the first quarter. PNC Financial Services Group Inc. now owns 8,504 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 904 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Main Street Capital in the first quarter valued at $274,000. SS&H Financial Advisors Inc. purchased a new stake in shares of Main Street Capital in the first quarter valued at $1,079,000. Northern Trust Corp lifted its holdings in shares of Main Street Capital by 40.1% in the first quarter. Northern Trust Corp now owns 47,333 shares of the financial services provider’s stock valued at $2,018,000 after purchasing an additional 13,542 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Main Street Capital by 6.9% in the first quarter. Invesco Ltd. now owns 43,655 shares of the financial services provider’s stock valued at $1,861,000 after purchasing an additional 2,814 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Main Street Capital Stock Up 0.2 %

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

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

Main Street Capital Increases Dividend

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