Vanguard Group Inc. Acquires 132,465 Shares of Franco-Nevada Co. (NYSE:FNV)

Vanguard Group Inc. grew its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,799,415 shares of the basic materials company’s stock after buying an additional 132,465 shares during the quarter. Vanguard Group Inc.’s holdings in Franco-Nevada were worth $916,540,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Essex Financial Services Inc. grew its position in Franco-Nevada by 2.2% during the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 84 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 93 shares during the period. Mutual Advisors LLC increased its stake in shares of Franco-Nevada by 4.0% in the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after buying an additional 96 shares during the period. Sustainable Insight Capital Management LLC raised its holdings in Franco-Nevada by 2.7% during the 4th quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock valued at $441,000 after buying an additional 100 shares during the last quarter. Finally, Blossom Wealth Management boosted its position in Franco-Nevada by 3.9% during the 4th quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock valued at $335,000 after buying an additional 108 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

FNV stock opened at $155.36 on Friday. The firm has a market capitalization of $29.92 billion, a price-to-earnings ratio of -49.16, a PEG ratio of 9.78 and a beta of 0.73. The firm has a 50 day moving average price of $142.60 and a 200-day moving average price of $130.48. Franco-Nevada Co. has a 52-week low of $112.70 and a 52-week high of $159.38.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. During the same quarter in the previous year, the business earned $0.90 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.98%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. Franco-Nevada’s dividend payout ratio is 53.15%.

Analyst Ratings Changes

FNV has been the topic of a number of research analyst reports. Raymond James boosted their price target on Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. UBS Group boosted their price objective on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada increased their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.50.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.