Envestnet Portfolio Solutions Inc. Increases Stock Position in Franco-Nevada Co. (NYSE:FNV)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 41.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,484 shares of the basic materials company’s stock after buying an additional 3,341 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Franco-Nevada were worth $1,350,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Laurel Wealth Advisors LLC purchased a new position in Franco-Nevada in the fourth quarter worth $47,000. Point72 DIFC Ltd purchased a new position in shares of Franco-Nevada in the 3rd quarter valued at about $52,000. Erste Asset Management GmbH purchased a new position in shares of Franco-Nevada in the 3rd quarter valued at about $55,000. SBI Securities Co. Ltd. purchased a new stake in Franco-Nevada during the fourth quarter worth about $73,000. Finally, Jones Financial Companies Lllp grew its position in Franco-Nevada by 25.6% during the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company’s stock worth $73,000 after buying an additional 126 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $155.85 on Friday. The company has a 50-day simple moving average of $139.63 and a 200-day simple moving average of $129.21. The company has a market cap of $30.01 billion, a PE ratio of -49.32, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $156.82.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS 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 firm had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. During the same period in the previous year, the company earned $0.90 EPS. Franco-Nevada’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, 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 will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.98%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

Analysts Set New Price Targets

FNV has been the subject of a number of research reports. Scotiabank lifted their price target on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 11th. HC Wainwright lifted their price objective on Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Royal Bank of Canada boosted their target price on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. UBS Group raised their price target 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, TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.63.

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.