Franco-Nevada Corporation $FNV Stake Lifted by O Brien Greene & Co. Inc

O Brien Greene & Co. Inc grew its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,369 shares of the basic materials company’s stock after purchasing an additional 631 shares during the period. Franco-Nevada makes up approximately 2.8% of O Brien Greene & Co. Inc’s holdings, making the stock its 14th biggest position. O Brien Greene & Co. Inc’s holdings in Franco-Nevada were worth $8,420,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Envestnet Asset Management Inc. raised its stake in shares of Franco-Nevada by 36.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company’s stock worth $9,200,000 after buying an additional 15,483 shares in the last quarter. FORA Capital LLC grew its holdings in Franco-Nevada by 169.8% during the first quarter. FORA Capital LLC now owns 5,342 shares of the basic materials company’s stock worth $842,000 after acquiring an additional 3,362 shares during the period. D.A. Davidson & CO. bought a new stake in Franco-Nevada in the first quarter worth about $265,000. Jump Financial LLC acquired a new stake in Franco-Nevada in the 1st quarter valued at about $274,000. Finally, Principal Financial Group Inc. boosted its position in shares of Franco-Nevada by 34.4% during the 1st quarter. Principal Financial Group Inc. now owns 10,710 shares of the basic materials company’s stock valued at $1,684,000 after purchasing an additional 2,739 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on FNV. CIBC reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. TD Securities dropped their price target on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a research note on Wednesday. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Scotiabank boosted their price target on shares of Franco-Nevada from $184.00 to $225.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Finally, Zacks Research upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $223.43.

Franco-Nevada Stock Performance

NYSE:FNV opened at $188.01 on Friday. The company has a market capitalization of $36.24 billion, a P/E ratio of 46.19, a P/E/G ratio of 1.70 and a beta of 0.40. The stock’s 50 day moving average price is $201.85 and its 200 day moving average price is $179.49. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.37 by $0.06. The company had revenue of $487.70 million for the quarter, compared to analyst estimates of $448.51 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. Franco-Nevada’s quarterly revenue was up 76.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 EPS. As a group, sell-side analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, December 4th. Franco-Nevada’s dividend payout ratio is 31.87%.

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.