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

Envestnet Asset Management Inc. grew its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 42.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,905 shares of the basic materials company's stock after purchasing an additional 12,688 shares during the period. Envestnet Asset Management Inc.'s holdings in Franco-Nevada were worth $5,045,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Barclays PLC grew its holdings in Franco-Nevada by 29.4% during the 3rd quarter. Barclays PLC now owns 35,828 shares of the basic materials company's stock valued at $4,450,000 after buying an additional 8,147 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Franco-Nevada during the 3rd quarter valued at approximately $326,000. Tri Ri Asset Management Corp purchased a new position in shares of Franco-Nevada in the third quarter valued at $3,433,000. Franklin Resources Inc. increased its position in Franco-Nevada by 8.3% in the third quarter. Franklin Resources Inc. now owns 79,232 shares of the basic materials company's stock worth $9,957,000 after purchasing an additional 6,052 shares during the last quarter. Finally, Confluence Investment Management LLC raised its stake in Franco-Nevada by 8.7% during the fourth quarter. Confluence Investment Management LLC now owns 5,790 shares of the basic materials company's stock valued at $681,000 after purchasing an additional 465 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Down 0.1 %

FNV opened at $172.95 on Wednesday. The business has a fifty day moving average of $151.59 and a 200 day moving average of $135.02. Franco-Nevada Co. has a 52-week low of $112.70 and a 52-week high of $178.74. The stock has a market cap of $33.30 billion, a P/E ratio of -54.73, a PEG ratio of 9.78 and a beta of 0.68.

Franco-Nevada (NYSE:FNV - Get Free Report) 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, beating analysts' consensus estimates of $0.90 by $0.05. The firm had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. Equities analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, March 13th. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.88%. Franco-Nevada's dividend payout ratio (DPR) is 53.15%.

Wall Street Analyst Weigh In

A number of brokerages have commented on FNV. Scotiabank lifted their price objective on shares of Franco-Nevada from $150.00 to $165.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. UBS Group lifted their price target on Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. BMO Capital Markets assumed coverage on Franco-Nevada in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. HC Wainwright raised their price objective on Franco-Nevada from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. Finally, National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research report on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $162.25.

About Franco-Nevada

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.

Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.