Franco-Nevada Co. (NYSE:FNV) Shares Sold by Huntington National Bank

Huntington National Bank cut its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 6.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,385 shares of the basic materials company’s stock after selling 101 shares during the quarter. Huntington National Bank’s holdings in Franco-Nevada were worth $163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Covea Finance raised its holdings in Franco-Nevada by 2.7% during the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock worth $11,895,000 after purchasing an additional 2,700 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Franco-Nevada by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company’s stock valued at $49,702,000 after buying an additional 16,029 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Franco-Nevada by 113.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company’s stock worth $601,000 after buying an additional 2,710 shares during the last quarter. Tri Ri Asset Management Corp purchased a new stake in shares of Franco-Nevada in the 3rd quarter worth about $3,433,000. Finally, Horizon Kinetics Asset Management LLC grew its stake in Franco-Nevada by 5.6% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 988,033 shares of the basic materials company’s stock valued at $116,183,000 after acquiring an additional 52,199 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on FNV. Royal Bank of Canada upped their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Raymond James upped their target price on Franco-Nevada from $162.00 to $181.00 and gave the company an “outperform” rating in a research note on Friday. Scotiabank raised their price target on Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 11th. UBS Group upped their price objective on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Finally, StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.88.

Franco-Nevada Trading Down 8.7 %

NYSE FNV opened at $144.86 on Friday. The business’s 50-day moving average price is $145.19 and its 200 day moving average price is $131.62. Franco-Nevada Co. has a twelve month low of $112.70 and a twelve month high of $161.36. The company has a market capitalization of $27.89 billion, a PE ratio of -45.84, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $321.00 million for the quarter, compared to analyst estimates of $304.33 million. During the same period in the prior year, the firm posted $0.90 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Equities analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is 53.15%.

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.