Envestnet Portfolio Solutions Inc. Grows Stock Position in Franco-Nevada Co. (NYSE:FNV)

Envestnet Portfolio Solutions Inc. increased its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 41.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,484 shares of the basic materials company’s stock after acquiring an additional 3,341 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Franco-Nevada were worth $1,350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Franco-Nevada by 76.5% in 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 purchasing an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in Franco-Nevada by 19.4% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after buying an additional 537,047 shares during the period. Proficio Capital Partners LLC lifted 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 valued at $56,762,000 after buying an additional 478,602 shares during the last quarter. Bennbridge Ltd acquired a new position in shares of Franco-Nevada in the 4th quarter worth approximately $45,877,000. Finally, Two Sigma Advisers LP lifted its position in shares of 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 worth $119,069,000 after purchasing an additional 359,900 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

FNV has been the topic of a number of recent analyst reports. UBS Group increased their price objective on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday. Scotiabank upped their target price on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Tuesday, March 11th. Raymond James lifted their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Finally, HC Wainwright upped their price objective on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $153.63.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $155.85 on Friday. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $156.82. The stock has a market capitalization of $30.01 billion, a price-to-earnings ratio of -49.32, a PEG ratio of 9.78 and a beta of 0.73. The company has a 50-day simple moving average of $139.63 and a 200-day simple moving average of $129.21.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, beating 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 the consensus estimate of $304.33 million. During the same period in the prior year, the business earned $0.90 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. As a group, research analysts forecast that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.98%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is 53.15%.

Franco-Nevada Company 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.