Envestnet Asset Management Inc. Has $3.23 Million Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Envestnet Asset Management Inc. trimmed its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 20.4% in the second quarter, Holdings Channel.com reports. The firm owned 27,290 shares of the basic materials company’s stock after selling 6,977 shares during the period. Envestnet Asset Management Inc.’s holdings in Franco-Nevada were worth $3,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FNV. Mechanics Financial Corp grew its position in shares of Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after buying an additional 150 shares during the period. Mather Group LLC. bought a new position in Franco-Nevada in the second quarter valued at approximately $33,000. Kings Path Partners LLC acquired a new stake in Franco-Nevada during the 2nd quarter worth $36,000. Fortis Group Advisors LLC raised its position in shares of Franco-Nevada by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 176 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Franco-Nevada by 37.1% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 119 shares during the period. 77.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on FNV shares. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. HC Wainwright restated a “buy” rating and set a $185.00 price objective on shares of Franco-Nevada in a report on Friday, August 16th. Scotiabank increased their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group boosted their price target on shares of Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus target price of $152.38.

Franco-Nevada Stock Down 2.4 %

Shares of FNV stock opened at $121.72 on Friday. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $142.60. The firm has a fifty day moving average of $123.52 and a 200-day moving average of $122.23. The company has a market capitalization of $23.42 billion, a price-to-earnings ratio of -48.88, a P/E/G ratio of 21.28 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $260.10 million for the quarter, compared to the consensus estimate of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. Franco-Nevada’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. On average, equities analysts expect that Franco-Nevada Co. will post 3.23 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Thursday, September 12th. Franco-Nevada’s dividend payout ratio is presently -57.83%.

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.