O Brien Greene & Co. Inc Reduces Stake in Franco-Nevada Co. (NYSE:FNV)

O Brien Greene & Co. Inc decreased its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,521 shares of the basic materials company’s stock after selling 648 shares during the quarter. Franco-Nevada makes up approximately 2.0% of O Brien Greene & Co. Inc’s portfolio, making the stock its 19th biggest position. O Brien Greene & Co. Inc’s holdings in Franco-Nevada were worth $6,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FNV. Van ECK Associates Corp lifted its position in shares of Franco-Nevada by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock worth $1,004,046,000 after buying an additional 193,968 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after buying an additional 424,810 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after acquiring an additional 537,047 shares in the last quarter. M&G PLC lifted its position in Franco-Nevada by 3.2% in the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after acquiring an additional 51,996 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in Franco-Nevada by 2.2% in the third quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock valued at $171,513,000 after acquiring an additional 29,512 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FNV has been the topic of a number of research analyst reports. UBS Group began coverage on Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 target price on the stock. Royal Bank of Canada boosted their price objective on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. HC Wainwright reissued a “buy” rating and issued a $155.00 price objective on shares of Franco-Nevada in a report on Tuesday, January 28th. Scotiabank cut their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.71.

Franco-Nevada Stock Performance

FNV stock opened at $139.95 on Thursday. The stock has a market capitalization of $26.95 billion, a PE ratio of -44.29, a price-to-earnings-growth ratio of 9.54 and a beta of 0.74. The company has a fifty day moving average of $128.17 and a 200-day moving average of $125.57. Franco-Nevada Co. has a one year low of $103.64 and a one year high of $144.27.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is currently -45.57%.

About Franco-Nevada

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.