Clearbridge Investments LLC Acquires 182,826 Shares of Franco-Nevada Co. (NYSE:FNV)

Clearbridge Investments LLC grew its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 31.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 756,117 shares of the basic materials company’s stock after purchasing an additional 182,826 shares during the quarter. Clearbridge Investments LLC owned about 0.39% of Franco-Nevada worth $88,912,000 as of its most recent filing with the Securities and Exchange Commission.

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

Franco-Nevada Stock Up 1.3 %

FNV stock opened at $157.50 on Tuesday. Franco-Nevada Co. has a twelve month low of $112.70 and a twelve month high of $159.38. The company has a market cap of $30.33 billion, a PE ratio of -49.84, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. The business’s 50-day simple moving average is $143.23 and its 200 day simple moving average is $130.83.

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. The company had revenue of $321.00 million for the quarter, compared to analyst estimates of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 EPS. On average, equities research analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The firm 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 annualized dividend and a yield of 0.97%. 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 payout ratio is 53.15%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group lifted their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. HC Wainwright boosted their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, March 26th. Royal Bank of Canada raised their price target on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Finally, TD Securities cut Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.50.

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.