Chevy Chase Trust Holdings LLC Sells 57,193 Shares of Franco-Nevada Co. (NYSE:FNV)

Chevy Chase Trust Holdings LLC trimmed its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 9.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 533,576 shares of the basic materials company's stock after selling 57,193 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.28% of Franco-Nevada worth $62,743,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Creative Planning raised its holdings in shares of Franco-Nevada by 3.4% during the 3rd quarter. Creative Planning now owns 12,456 shares of the basic materials company's stock worth $1,548,000 after acquiring an additional 409 shares in the last quarter. McCollum Christoferson Group LLC increased its position in Franco-Nevada by 2.1% in the third quarter. McCollum Christoferson Group LLC now owns 34,656 shares of the basic materials company's stock worth $4,306,000 after purchasing an additional 705 shares during the last quarter. Blue Trust Inc. raised its stake in Franco-Nevada by 797.2% during the third quarter. Blue Trust Inc. now owns 1,947 shares of the basic materials company's stock valued at $231,000 after purchasing an additional 1,730 shares in the last quarter. Raymond James & Associates lifted its position in Franco-Nevada by 2.6% during the third quarter. Raymond James & Associates now owns 187,263 shares of the basic materials company's stock valued at $23,267,000 after purchasing an additional 4,768 shares during the last quarter. Finally, Atlas Wealth Partners LLC purchased a new position in shares of Franco-Nevada in the 3rd quarter worth $3,183,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FNV. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Scotiabank dropped their target price on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. UBS Group assumed coverage on Franco-Nevada in a research report on Monday, November 18th. They set a "buy" rating and a $160.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $155.00 price objective on shares of Franco-Nevada in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada boosted their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Franco-Nevada presently has an average rating of "Moderate Buy" and a consensus price target of $146.71.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded up $2.37 on Tuesday, hitting $140.69. 1,032,233 shares of the company's stock were exchanged, compared to its average volume of 656,804. The business's 50 day simple moving average is $127.86 and its two-hundred day simple moving average is $125.47. The stock has a market capitalization of $27.09 billion, a price-to-earnings ratio of -44.52, a price-to-earnings-growth ratio of 9.88 and a beta of 0.74. Franco-Nevada Co. has a 12 month low of $103.64 and a 12 month high of $144.27.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.08%. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada's payout ratio is -48.10%.

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.