Massachusetts Financial Services Co. MA Has $1.41 Billion Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Massachusetts Financial Services Co. MA decreased its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,000,181 shares of the basic materials company’s stock after selling 41,949 shares during the period. Massachusetts Financial Services Co. MA owned about 6.23% of Franco-Nevada worth $1,411,101,000 as of its most recent SEC filing.

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

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at $157.48 on Wednesday. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $159.38. The stock has a market capitalization of $30.32 billion, a price-to-earnings ratio of -49.84, a PEG ratio of 9.78 and a beta of 0.73. The firm has a fifty day moving average of $143.77 and a two-hundred day moving average of $131.06.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm 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%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, research analysts forecast that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $0.38 per share. This is a positive change 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 0.97%. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FNV shares. StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. HC Wainwright lifted their price target on Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, March 26th. Royal Bank of Canada increased their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. UBS Group boosted their target price on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research note 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 target price on the stock. in a research report on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target 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.