Stegent Equity Advisors Inc. Grows Stock Position in Franco-Nevada Co. (NYSE:FNV)

Stegent Equity Advisors Inc. lifted its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 23.7% in the fourth quarter, HoldingsChannel reports. The firm owned 3,022 shares of the basic materials company’s stock after acquiring an additional 579 shares during the quarter. Stegent Equity Advisors Inc.’s holdings in Franco-Nevada were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FNV. Creative Planning boosted its holdings in Franco-Nevada by 3.4% in the third quarter. Creative Planning now owns 12,456 shares of the basic materials company’s stock valued at $1,548,000 after purchasing an additional 409 shares during the period. International Assets Investment Management LLC purchased a new position in Franco-Nevada in the third quarter valued at $1,256,000. Assenagon Asset Management S.A. boosted its holdings in Franco-Nevada by 5.3% in the third quarter. Assenagon Asset Management S.A. now owns 7,325 shares of the basic materials company’s stock valued at $911,000 after purchasing an additional 369 shares during the period. Integrated Advisors Network LLC purchased a new position in Franco-Nevada in the third quarter valued at $495,000. Finally, First Trust Direct Indexing L.P. purchased a new position in Franco-Nevada in the third quarter valued at $201,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $140.71 on Thursday. Franco-Nevada Co. has a fifty-two week low of $103.64 and a fifty-two week high of $144.27. The company has a market capitalization of $27.09 billion, a P/E ratio of -44.53, a PEG ratio of 9.78 and a beta of 0.74. The stock has a 50-day simple moving average of $130.27 and a 200-day simple moving average of $126.27.

Franco-Nevada Increases Dividend

The company also recently announced 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. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s payout ratio is presently -48.10%.

Analyst Ratings Changes

A number of analysts have issued reports on FNV shares. HC Wainwright reaffirmed a “buy” rating and set a $155.00 price target on shares of Franco-Nevada in a report on Tuesday, January 28th. UBS Group started coverage on Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price target for the company. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Scotiabank decreased their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $146.71.

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.