Signaturefd LLC Sells 1,227 Shares of Franco-Nevada Co. (NYSE:FNV)

Signaturefd LLC lessened its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 28.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,022 shares of the basic materials company’s stock after selling 1,227 shares during the period. Signaturefd LLC’s holdings in Franco-Nevada were worth $335,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC grew its position in Franco-Nevada by 1.3% in the third quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock valued at $2,211,558,000 after acquiring an additional 208,392 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Franco-Nevada by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,441,556 shares of the basic materials company’s stock valued at $1,393,843,000 after purchasing an additional 31,642 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Franco-Nevada by 1.6% during the third quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company’s stock valued at $948,364,000 after purchasing an additional 112,274 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Franco-Nevada by 8.3% during the third quarter. Victory Capital Management Inc. now owns 2,681,215 shares of the basic materials company’s stock valued at $357,915,000 after purchasing an additional 206,125 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in shares of Franco-Nevada by 3.3% during the third quarter. First Eagle Investment Management LLC now owns 2,258,933 shares of the basic materials company’s stock valued at $301,557,000 after purchasing an additional 71,226 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on FNV. Raymond James lifted their price target on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Scotiabank lifted their price target on Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. TheStreet lowered Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Jefferies Financial Group lifted their price objective on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Bank of America cut their price objective on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $148.60.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $121.61 on Friday. The company has a market cap of $23.39 billion, a P/E ratio of -50.05, a PEG ratio of 6.22 and a beta of 0.71. The stock has a 50 day simple moving average of $114.80 and a two-hundred day simple moving average of $115.83. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $303.30 million during the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. On average, research analysts predict that Franco-Nevada Co. will post 2.9 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.36 per share. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. Franco-Nevada’s payout ratio is currently -55.97%.

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.