Intech Investment Management LLC Sells 599 Shares of Franco-Nevada Co. (NYSE:FNV)

Intech Investment Management LLC lessened its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,415 shares of the basic materials company’s stock after selling 599 shares during the quarter. Intech Investment Management LLC’s holdings in Franco-Nevada were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of FNV. Graham Capital Wealth Management LLC lifted its holdings in Franco-Nevada by 0.4% during the 2nd quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock worth $2,511,000 after buying an additional 86 shares in the last quarter. Meixler Investment Management Ltd. lifted its stake in shares of Franco-Nevada by 0.5% during the second quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock valued at $2,543,000 after acquiring an additional 101 shares during the period. Natixis Advisors LLC boosted its holdings in Franco-Nevada by 0.5% in the second quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock valued at $2,272,000 after acquiring an additional 101 shares during the last quarter. Huntington National Bank increased its position in Franco-Nevada by 7.4% in the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 102 shares during the period. Finally, Primoris Wealth Advisors LLC raised its holdings in Franco-Nevada by 4.7% during the 2nd quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock worth $293,000 after purchasing an additional 112 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

NYSE:FNV opened at $122.62 on Monday. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60. The firm’s fifty day moving average is $125.77 and its 200-day moving average is $123.71. The firm has a market cap of $23.60 billion, a P/E ratio of -38.80, a P/E/G ratio of 20.72 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. During the same period last year, the business posted $0.91 EPS. The company’s revenue was down 10.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio is presently -45.57%.

Wall Street Analyst Weigh In

A number of research firms have commented on FNV. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.83.

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.