Sumitomo Mitsui Trust Group Inc. Sells 177 Shares of Franco-Nevada Co. (NYSE:FNV)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 8.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,936 shares of the basic materials company’s stock after selling 177 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Franco-Nevada were worth $241,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in Franco-Nevada by 0.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock valued at $1,456,208,000 after purchasing an additional 64,429 shares during the last quarter. Van ECK Associates Corp grew its holdings in Franco-Nevada by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock valued at $1,022,452,000 after purchasing an additional 151,566 shares during the last quarter. Vanguard Group Inc. boosted its position in Franco-Nevada by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock valued at $878,696,000 after buying an additional 129,876 shares during the period. Capital World Investors boosted its position in Franco-Nevada by 2.7% in the 1st quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock valued at $547,807,000 after buying an additional 120,367 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in Franco-Nevada by 1.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock valued at $386,597,000 after buying an additional 47,311 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

Shares of FNV opened at $121.49 on Thursday. The company has a 50 day moving average price of $126.17 and a 200-day moving average price of $123.91. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $137.60. The stock has a market capitalization of $23.39 billion, a PE ratio of -38.45, a PEG ratio of 19.22 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. During the same period in the previous year, the company earned $0.91 EPS. The company’s revenue was down 10.9% on a year-over-year basis. Equities research analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.19%. Franco-Nevada’s payout ratio is -45.57%.

Analyst Ratings Changes

Several equities research analysts have issued reports on FNV shares. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday. HC Wainwright boosted their price objective on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Scotiabank lowered their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

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.