National Bank of Canada FI Reduces Position in Main Street Capital Co. (NYSE:MAIN)

National Bank of Canada FI decreased its position in shares of Main Street Capital Co. (NYSE:MAIN) by 20.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,540 shares of the financial services provider’s stock after selling 394 shares during the period. National Bank of Canada FI’s holdings in Main Street Capital were worth $77,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC raised its position in Main Street Capital by 10.5% in the 2nd quarter. Belpointe Asset Management LLC now owns 21,000 shares of the financial services provider’s stock valued at $1,060,000 after purchasing an additional 2,000 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Main Street Capital by 6.5% in the second quarter. Larson Financial Group LLC now owns 43,037 shares of the financial services provider’s stock valued at $2,173,000 after buying an additional 2,638 shares during the last quarter. Fortis Capital Advisors LLC boosted its stake in shares of Main Street Capital by 10.5% during the second quarter. Fortis Capital Advisors LLC now owns 21,000 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 2,000 shares during the period. Naviter Wealth LLC raised its stake in Main Street Capital by 29.1% during the 2nd quarter. Naviter Wealth LLC now owns 55,377 shares of the financial services provider’s stock valued at $2,796,000 after acquiring an additional 12,471 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new stake in Main Street Capital during the 2nd quarter worth approximately $1,798,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on MAIN shares. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Main Street Capital in a research note on Wednesday, August 14th. Oppenheimer raised their target price on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Main Street Capital presently has a consensus rating of “Hold” and an average price target of $48.40.

Main Street Capital Stock Up 0.9 %

Main Street Capital stock opened at $49.95 on Friday. The stock’s 50 day moving average price is $49.85 and its 200 day moving average price is $48.83. The company has a market cap of $4.35 billion, a PE ratio of 9.11 and a beta of 1.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.07 and a quick ratio of 0.07. Main Street Capital Co. has a 1-year low of $37.70 and a 1-year high of $52.39.

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

Main Street Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 8th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, October 8th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 7.21%. Main Street Capital’s payout ratio is 53.65%.

About Main Street Capital

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.