Markel Group Inc. Acquires 137,750 Shares of Franco-Nevada Co. (NYSE:FNV)

Markel Group Inc. lifted its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 39.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 483,250 shares of the basic materials company’s stock after purchasing an additional 137,750 shares during the period. Markel Group Inc. owned 0.25% of Franco-Nevada worth $56,825,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Covea Finance grew 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 in the last quarter. Horizon Kinetics Asset Management LLC grew its position in Franco-Nevada by 1.9% during the third quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock worth $116,277,000 after buying an additional 17,232 shares in the last quarter. Telemark Asset Management LLC grew its position in Franco-Nevada by 66.7% during the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after buying an additional 20,000 shares in the last quarter. Victory Capital Management Inc. grew its position in Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after buying an additional 424,810 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Franco-Nevada by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 407,137 shares of the basic materials company’s stock worth $50,623,000 after buying an additional 19,589 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Price Performance

Shares of FNV opened at $142.62 on Tuesday. The business’s 50 day simple moving average is $133.80 and its 200-day simple moving average is $127.30. Franco-Nevada Co. has a one year low of $111.98 and a one year high of $150.23. The company has a market capitalization of $27.46 billion, a P/E ratio of -45.13, a PEG ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted 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 firm had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. During the same quarter in the previous year, the company posted $0.90 EPS. Franco-Nevada’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is -48.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FNV shares. Royal Bank of Canada lifted 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. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. UBS Group assumed coverage on Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $155.00 price objective on shares of Franco-Nevada in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and an average price target of $146.71.

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.