Eaton Vance Management continued to hold its position in shares of Solar Capital Ltd. (NASDAQ:SLRC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,000 shares of the company’s stock at the end of the second quarter. Eaton Vance Management’s holdings in Solar Capital were worth $819,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of SLRC. Confluence Investment Management LLC boosted its position in shares of Solar Capital by 1.8% in the second quarter. Confluence Investment Management LLC now owns 523,187 shares of the company’s stock worth $9,967,000 after buying an additional 9,350 shares during the last quarter. Green Square Capital LLC bought a new position in shares of Solar Capital during the second quarter worth about $198,000. Bank of Montreal Can bought a new position in shares of Solar Capital during the second quarter worth about $4,534,000. Sanders Morris Harris Inc. boosted its position in shares of Solar Capital by 0.8% in the second quarter. Sanders Morris Harris Inc. now owns 56,646 shares of the company’s stock worth $1,079,000 after buying an additional 423 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. boosted its position in shares of Solar Capital by 2.7% in the second quarter. Eagle Boston Investment Management Inc. now owns 322,168 shares of the company’s stock worth $6,137,000 after buying an additional 8,352 shares during the last quarter. 58.55% of the stock is owned by institutional investors and hedge funds.
Solar Capital Ltd. (NASDAQ:SLRC) traded down 0.069% during midday trading on Wednesday, hitting $20.346. The stock had a trading volume of 18,983 shares. Solar Capital Ltd. has a 1-year low of $15.05 and a 1-year high of $20.88. The company has a 50-day moving average of $20.34 and a 200-day moving average of $18.95.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. Solar Capital had a return on equity of 7.83% and a net margin of 35.86%. On average, equities analysts predict that Solar Capital Ltd. will post $1.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Thursday, September 22nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 7.86%. The ex-dividend date is Tuesday, September 20th. Solar Capital’s dividend payout ratio (DPR) is currently 136.75%.
A number of equities research analysts recently weighed in on the company. National Securities reaffirmed a “buy” rating and set a $22.00 price target (up from $21.00) on shares of Solar Capital in a report on Thursday, August 4th. Deutsche Bank AG raised their price target on Solar Capital from $23.00 to $23.50 and gave the company a “buy” rating in a report on Thursday, August 4th. Citigroup Inc. raised their price target on Solar Capital from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, August 16th. Zacks Investment Research raised Solar Capital from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Friday, August 5th. Finally, Keefe, Bruyette & Woods set a $21.50 price target on Solar Capital and gave the company a “hold” rating in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $21.38.
About Solar Capital
Solar Capital Ltd. is a management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in the United States middle market companies. It invests primarily in leveraged middle markets companies in the form of senior secured loans, mezzanine loans and equity securities.
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