Raymond James & Associates Sells 1,122 Shares of Main Street Capital Co. (NYSE:MAIN)

Raymond James & Associates reduced its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,250 shares of the financial services provider’s stock after selling 1,122 shares during the quarter. Raymond James & Associates owned about 0.06% of Main Street Capital worth $2,043,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MAIN. PNC Financial Services Group Inc. increased its stake in Main Street Capital by 11.9% during the first quarter. PNC Financial Services Group Inc. now owns 8,504 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 904 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Main Street Capital during the first quarter valued at approximately $274,000. SS&H Financial Advisors Inc. purchased a new position in shares of Main Street Capital during the first quarter valued at approximately $1,079,000. Northern Trust Corp boosted its position in shares of Main Street Capital by 40.1% during the first quarter. Northern Trust Corp now owns 47,333 shares of the financial services provider’s stock valued at $2,018,000 after buying an additional 13,542 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Main Street Capital by 6.9% during the first quarter. Invesco Ltd. now owns 43,655 shares of the financial services provider’s stock valued at $1,861,000 after buying an additional 2,814 shares during the period. 20.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. B. Riley lowered Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a research report on Monday, January 8th. Oppenheimer boosted their target price on Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. Truist Financial boosted their price target on Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a report on Monday, February 26th. UBS Group boosted their price target on Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, Royal Bank of Canada boosted their price target on Main Street Capital from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Main Street Capital has an average rating of “Hold” and an average target price of $45.50.

Main Street Capital Stock Up 0.2 %

Main Street Capital stock opened at $46.77 on Wednesday. The business has a fifty day moving average of $46.00 and a two-hundred day moving average of $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. The firm 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 twelve month low of $37.70 and a twelve month high of $47.82.

Main Street Capital (NYSE:MAIN) last posted 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 company had revenue of $129.31 million during the quarter, compared to analyst estimates of $125.52 million. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. On average, analysts forecast 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. Stockholders of record on Wednesday, March 20th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This is an increase from Main Street Capital’s previous dividend of $0.24. This represents a dividend yield of 8.37%. Main Street Capital’s dividend 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.