Stegent Equity Advisors Inc. Grows Stock Position in Franco-Nevada Co. (NYSE:FNV)

Stegent Equity Advisors Inc. grew its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 23.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,022 shares of the basic materials company’s stock after acquiring an additional 579 shares during the quarter. Stegent Equity Advisors Inc.’s holdings in Franco-Nevada were worth $355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in Franco-Nevada during the fourth quarter worth approximately $47,000. Point72 DIFC Ltd purchased a new position in Franco-Nevada during the third quarter worth approximately $52,000. Erste Asset Management GmbH purchased a new position in Franco-Nevada during the third quarter worth approximately $55,000. Principal Securities Inc. lifted its position in Franco-Nevada by 290.5% during the fourth quarter. Principal Securities Inc. now owns 863 shares of the basic materials company’s stock worth $101,000 after buying an additional 642 shares in the last quarter. Finally, Birch Capital Management LLC lifted its position in Franco-Nevada by 37.9% during the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock worth $128,000 after buying an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 1.2 %

Shares of NYSE FNV opened at $140.71 on Thursday. Franco-Nevada Co. has a twelve month low of $103.64 and a twelve month high of $144.27. The stock has a fifty day simple moving average of $130.27 and a 200-day simple moving average of $126.27. The stock has a market capitalization of $27.09 billion, a PE ratio of -44.53, a PEG ratio of 9.78 and a beta of 0.74.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.08%. Franco-Nevada’s payout ratio is presently -48.10%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Royal Bank of Canada lifted their price objective on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. UBS Group began coverage on Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a research note on Tuesday, January 28th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $146.71.

Franco-Nevada 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.