Franco-Nevada Co. (NYSE:FNV) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 77.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,123 shares of the basic materials company's stock after selling 44,432 shares during the quarter. Principal Financial Group Inc.'s holdings in Franco-Nevada were worth $1,632,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in FNV. Mechanics Financial Corp boosted its holdings in Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company's stock worth $30,000 after buying an additional 150 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Franco-Nevada during the 2nd quarter worth approximately $33,000. Kings Path Partners LLC acquired a new stake in shares of Franco-Nevada in the 2nd quarter worth approximately $36,000. Sunbelt Securities Inc. increased its stake in Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 400 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Franco-Nevada during the second quarter worth $68,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FNV shares. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Bank of America downgraded shares of Franco-Nevada from a "buy" rating to a "neutral" rating and dropped their target price for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Scotiabank reduced their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Finally, TD Securities upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.86.

Franco-Nevada Stock Up 0.4 %

NYSE:FNV traded up $0.46 during mid-day trading on Friday, reaching $123.69. The company's stock had a trading volume of 1,644,955 shares, compared to its average volume of 722,104. The company's fifty day simple moving average is $126.13 and its two-hundred day simple moving average is $123.90. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $137.60.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). The company had revenue of $275.70 million during the quarter, compared to analysts' expectations of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada's revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 earnings per share. On average, research analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.16%. Franco-Nevada's payout ratio is -45.57%.

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.