Corient Private Wealth LLC Sells 3,742 Shares of Franco-Nevada Co. (NYSE:FNV)

Corient Private Wealth LLC reduced its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 221,840 shares of the basic materials company’s stock after selling 3,742 shares during the quarter. Corient Private Wealth LLC owned 0.12% of Franco-Nevada worth $26,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in Franco-Nevada by 41.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,484 shares of the basic materials company’s stock valued at $1,350,000 after acquiring an additional 3,341 shares during the period. Ironwood Investment Management LLC lifted its holdings in Franco-Nevada by 3.3% in the fourth quarter. Ironwood Investment Management LLC now owns 7,307 shares of the basic materials company’s stock valued at $859,000 after acquiring an additional 232 shares during the period. First Eagle Investment Management LLC lifted its holdings in Franco-Nevada by 3.3% in the fourth quarter. First Eagle Investment Management LLC now owns 3,366,544 shares of the basic materials company’s stock valued at $395,113,000 after acquiring an additional 107,043 shares during the period. Intact Investment Management Inc. lifted its holdings in Franco-Nevada by 155.2% in the fourth quarter. Intact Investment Management Inc. now owns 110,890 shares of the basic materials company’s stock valued at $13,029,000 after acquiring an additional 67,440 shares during the period. Finally, Wellington Shields Capital Management LLC lifted its holdings in Franco-Nevada by 3,886.3% in the fourth quarter. Wellington Shields Capital Management LLC now owns 119,590 shares of the basic materials company’s stock valued at $14,063,000 after acquiring an additional 116,590 shares during the period. 77.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FNV shares. UBS Group increased their target price on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Scotiabank upped their price target on Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 11th. Royal Bank of Canada upped their price target 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. HC Wainwright upped their price target on Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, TD Securities cut Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $153.63.

Franco-Nevada Trading Up 0.2 %

NYSE:FNV opened at $154.31 on Wednesday. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $156.82. The stock has a 50-day moving average price of $137.96 and a 200 day moving average price of $128.62. The stock has a market capitalization of $29.71 billion, a P/E ratio of -48.83, a P/E/G ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. During the same quarter last year, the business posted $0.90 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.99%. The ex-dividend date is Thursday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is currently 53.15%.

About Franco-Nevada

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.