First Trust Advisors LP Buys 335,598 Shares of Franco-Nevada Co. (NYSE:FNV)

First Trust Advisors LP boosted its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1,024.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 368,342 shares of the basic materials company’s stock after purchasing an additional 335,598 shares during the quarter. First Trust Advisors LP owned about 0.19% of Franco-Nevada worth $43,313,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Essex Financial Services Inc. grew its stake in Franco-Nevada by 2.2% during the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after buying an additional 84 shares in the last quarter. Harbour Investments Inc. grew its position in Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 93 shares during the last quarter. Mutual Advisors LLC grew its position in Franco-Nevada by 4.0% during the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after acquiring an additional 96 shares during the last quarter. Sustainable Insight Capital Management LLC increased its holdings in Franco-Nevada by 2.7% in the 4th quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock worth $441,000 after purchasing an additional 100 shares in the last quarter. Finally, Blossom Wealth Management raised its position in Franco-Nevada by 3.9% in the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock valued at $335,000 after purchasing an additional 108 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $170.15 on Thursday. The business has a 50-day simple moving average of $152.22 and a 200 day simple moving average of $135.26. The firm has a market capitalization of $32.76 billion, a price-to-earnings ratio of -53.84, a PEG ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $178.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $321.00 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. On average, sell-side analysts expect 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. Investors of record on Thursday, March 13th were given a $0.38 dividend. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 0.89%. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FNV. National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a report on Wednesday, April 2nd. Raymond James boosted their price objective on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Royal Bank of Canada increased their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, April 7th. Finally, BMO Capital Markets began coverage on shares of Franco-Nevada in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.25.

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.