Massachusetts Financial Services Co. MA Sells 41,949 Shares of Franco-Nevada Co. (NYSE:FNV)

Massachusetts Financial Services Co. MA cut its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,000,181 shares of the basic materials company's stock after selling 41,949 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 6.23% of Franco-Nevada worth $1,411,101,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new position in shares of Franco-Nevada during the 4th quarter worth approximately $47,000. Physician Wealth Advisors Inc. purchased a new stake in shares of Franco-Nevada during the 4th quarter valued at $49,000. Point72 DIFC Ltd bought a new stake in shares of Franco-Nevada during the 3rd quarter worth $52,000. Harbour Investments Inc. boosted its holdings in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after buying an additional 93 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in Franco-Nevada during the third quarter valued at about $55,000. 77.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on FNV shares. StockNews.com upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Scotiabank upped their price objective on Franco-Nevada from $145.00 to $150.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 11th. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price for the company. in a research report on Tuesday, March 11th. UBS Group boosted their target price on Franco-Nevada from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada increased their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $157.88.

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Franco-Nevada Stock Down 8.7 %

Shares of NYSE:FNV traded down $13.86 during midday trading on Friday, reaching $144.86. 1,961,563 shares of the company traded hands, compared to its average volume of 665,539. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $161.36. The firm's fifty day moving average price is $145.19 and its two-hundred day moving average price is $131.62. The firm has a market capitalization of $27.89 billion, a price-to-earnings ratio of -45.84, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. The company 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%. Franco-Nevada's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.90 earnings per share. Analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 1.05%. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio is presently 53.15%.

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.