Trust Co. of Vermont Buys Shares of 4,462 Main Street Capital Corporation $MAIN

Key Points

• Trust Co. of Vermont acquired 4,462 shares of Main Street Capital Corporation, valued at approximately $264,000, during the second quarter of 2023.
• Main Street Capital recently declared a quarterly dividend of $0.30 per share, set to be paid on October 15th, with an annualized yield of 1.9%.
• Royal Bank Of Canada and other analysts recently adjusted their price targets for Main Street Capital, with new targets ranging from $52.00 to $67.00, indicating positive sentiment around the stock.

Trust Co. of Vermont bought a new stake in Main Street Capital Corporation (NYSE:MAIN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,462 shares of the financial services provider's stock, valued at approximately $264,000.

Other hedge funds have also recently modified their holdings of the company. Financial Network Wealth Advisors LLC acquired a new position in Main Street Capital in the 1st quarter valued at $39,000. Spire Wealth Management purchased a new stake in shares of Main Street Capital in the first quarter valued at about $40,000. Wellington Shields & Co. LLC acquired a new position in shares of Main Street Capital during the first quarter worth about $41,000. Quarry LP purchased a new position in Main Street Capital during the first quarter worth about $48,000. Finally, NBC Securities Inc. purchased a new position in Main Street Capital during the first quarter worth about $54,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Trading Up 1.7%

Shares of MAIN stock opened at $63.91 on Friday. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 10.53 and a beta of 0.87. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $65.19 and a 200 day moving average price of $59.75. Main Street Capital Corporation has a twelve month low of $47.00 and a twelve month high of $67.77.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting analysts' consensus estimates of $0.99. The business had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. Research analysts forecast that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 8th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, October 8th. This represents a $1.20 annualized dividend and a yield of 1.9%. Main Street Capital's payout ratio is 50.41%.

Insider Buying and Selling at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the sale, the director owned 82,383 shares in the company, valued at $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada lifted their price objective on Main Street Capital from $52.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. B. Riley lifted their price target on Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Truist Financial increased their price objective on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. UBS Group reissued a "neutral" rating and issued a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Finally, Zacks Research upgraded shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Main Street Capital has an average rating of "Moderate Buy" and a consensus price target of $61.20.

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.

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