Commonwealth Equity Services LLC Raises Stock Holdings in Main Street Capital Co. (NYSE:MAIN)

Commonwealth Equity Services LLC lifted its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,177 shares of the financial services provider’s stock after acquiring an additional 2,043 shares during the period. Commonwealth Equity Services LLC’s holdings in Main Street Capital were worth $5,613,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MAIN. Price T Rowe Associates Inc. MD grew its position in Main Street Capital by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider’s stock worth $148,518,000 after purchasing an additional 71,698 shares during the last quarter. Burgundy Asset Management Ltd. grew its holdings in shares of Main Street Capital by 1.4% during the first quarter. Burgundy Asset Management Ltd. now owns 1,089,159 shares of the financial services provider’s stock worth $51,528,000 after buying an additional 15,392 shares during the last quarter. Van ECK Associates Corp increased its position in Main Street Capital by 13.9% in the 1st quarter. Van ECK Associates Corp now owns 1,008,783 shares of the financial services provider’s stock valued at $47,726,000 after acquiring an additional 122,757 shares during the period. Sound Income Strategies LLC raised its stake in Main Street Capital by 2.2% during the 1st quarter. Sound Income Strategies LLC now owns 359,773 shares of the financial services provider’s stock valued at $17,021,000 after acquiring an additional 7,790 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. lifted its position in Main Street Capital by 13.1% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 319,215 shares of the financial services provider’s stock worth $15,102,000 after acquiring an additional 37,075 shares during the period. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Price Performance

Shares of NYSE MAIN opened at $48.63 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.07 and a current ratio of 0.07. Main Street Capital Co. has a one year low of $37.70 and a one year high of $52.39. The firm has a market capitalization of $4.17 billion, a P/E ratio of 8.87 and a beta of 1.30. The company’s fifty day moving average is $50.08 and its two-hundred day moving average is $48.68.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. Main Street Capital had a net margin of 87.58% and a return on equity of 14.41%. The company had revenue of $132.15 million for the quarter, compared to analyst estimates of $132.62 million. During the same period in the prior year, the business posted $1.06 earnings per share. Analysts forecast that Main Street Capital Co. will post 4.13 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, September 20th. Main Street Capital’s dividend payout ratio is presently 53.65%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Truist Financial boosted their target price on Main Street Capital from $45.00 to $52.00 and gave the company a “hold” rating in a report on Monday, May 13th. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price objective on shares of Main Street Capital in a research report on Wednesday, August 14th. Oppenheimer lifted their target price on shares of Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Finally, B. Riley increased their price target on shares of Main Street Capital from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.40.

Main Street Capital 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.