Envestnet Asset Management Inc. Purchases 12,726 Shares of Main Street Capital Co. (NYSE:MAIN)

Envestnet Asset Management Inc. increased its position in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,211 shares of the financial services provider's stock after purchasing an additional 12,726 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of Main Street Capital worth $7,042,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE increased its position in Main Street Capital by 8.4% during the 4th quarter. US Bancorp DE now owns 2,579 shares of the financial services provider's stock valued at $151,000 after purchasing an additional 200 shares during the period. PFG Investments LLC increased its position in shares of Main Street Capital by 1.6% during the fourth quarter. PFG Investments LLC now owns 13,642 shares of the financial services provider's stock worth $799,000 after buying an additional 219 shares during the period. Harbour Investments Inc. lifted its holdings in Main Street Capital by 6.9% in the fourth quarter. Harbour Investments Inc. now owns 3,512 shares of the financial services provider's stock valued at $206,000 after buying an additional 228 shares during the period. Wedbush Securities Inc. lifted its holdings in Main Street Capital by 6.2% in the fourth quarter. Wedbush Securities Inc. now owns 4,591 shares of the financial services provider's stock valued at $269,000 after buying an additional 266 shares during the period. Finally, Marble Harbor Investment Counsel LLC grew its holdings in Main Street Capital by 4.8% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 6,285 shares of the financial services provider's stock worth $368,000 after acquiring an additional 285 shares during the period. 20.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MAIN. Truist Financial boosted their price objective on Main Street Capital from $52.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, March 3rd. UBS Group dropped their price target on Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Main Street Capital currently has a consensus rating of "Hold" and a consensus target price of $52.60.

Main Street Capital Stock Down 1.2 %

Shares of MAIN traded down $0.66 during trading hours on Friday, hitting $53.98. The stock had a trading volume of 150,923 shares, compared to its average volume of 441,043. The firm has a 50 day simple moving average of $56.35 and a 200-day simple moving average of $56.11. Main Street Capital Co. has a 1-year low of $45.00 and a 1-year high of $63.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $4.78 billion, a P/E ratio of 9.78 and a beta of 0.98.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $140.44 million during the quarter, compared to analyst estimates of $141.40 million. Sell-side analysts predict that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 21st were issued a dividend of $0.30 per share. This is an increase from Main Street Capital's previous dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 20th. This represents a yield of 7.11%. Main Street Capital's dividend payout ratio is presently 51.37%.

Insider Buying and Selling at Main Street Capital

In related news, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $6,966,000.00. Following the completion of the sale, the chief executive officer now directly owns 402,371 shares of the company's stock, valued at approximately $23,357,636.55. This represents a 22.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David L. Magdol sold 100,000 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the transaction, the insider now owns 377,182 shares in the company, valued at approximately $21,895,415.10. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.00% of the company's stock.

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.