Intech Investment Management LLC Sells 161 Shares of Franco-Nevada Co. (NYSE:FNV)

Intech Investment Management LLC decreased its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,254 shares of the basic materials company’s stock after selling 161 shares during the period. Intech Investment Management LLC’s holdings in Franco-Nevada were worth $500,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Franco-Nevada by 76.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after buying an additional 556,894 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after purchasing an additional 537,047 shares in the last quarter. Proficio Capital Partners LLC increased its position in Franco-Nevada by 11,659.0% in the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock worth $56,762,000 after purchasing an additional 478,602 shares during the last quarter. Bennbridge Ltd purchased a new stake in Franco-Nevada during the fourth quarter valued at $45,877,000. Finally, Two Sigma Advisers LP lifted its position in Franco-Nevada by 60.1% during the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after purchasing an additional 359,900 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $155.76 on Tuesday. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $157.71. The company has a market capitalization of $29.99 billion, a PE ratio of -49.29, a P/E/G ratio of 9.78 and a beta of 0.73. The company has a 50 day moving average price of $140.26 and a 200-day moving average price of $129.61.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. The business had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. On average, analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 0.98%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is currently 53.15%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. TD Securities downgraded Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, March 11th. Raymond James raised their price target on Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Finally, HC Wainwright boosted their price objective on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Five research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $153.63.

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.