Cerity Partners LLC Trims Holdings in Franco-Nevada Co. (NYSE:FNV)

Cerity Partners LLC trimmed its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,908 shares of the basic materials company’s stock after selling 103 shares during the quarter. Cerity Partners LLC’s holdings in Franco-Nevada were worth $322,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. CWM LLC raised its position in Franco-Nevada by 77.8% during the third quarter. CWM LLC now owns 786 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 344 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in Franco-Nevada by 2.3% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 22,839 shares of the basic materials company’s stock valued at $3,049,000 after acquiring an additional 518 shares in the last quarter. Bfsg LLC raised its position in Franco-Nevada by 2.6% during the third quarter. Bfsg LLC now owns 72,263 shares of the basic materials company’s stock valued at $9,646,000 after acquiring an additional 1,860 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Franco-Nevada by 1.4% during the third quarter. Commonwealth Equity Services LLC now owns 115,194 shares of the basic materials company’s stock valued at $15,377,000 after acquiring an additional 1,611 shares in the last quarter. Finally, Tectonic Advisors LLC purchased a new position in Franco-Nevada during the third quarter valued at approximately $572,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on FNV. Bank of America reduced their price target on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, March 18th. TheStreet cut Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Raymond James boosted their price objective on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Scotiabank boosted their price objective on Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research report on Thursday, April 18th. Finally, Jefferies Financial Group boosted their price objective on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $148.60.

Franco-Nevada Stock Performance

NYSE FNV opened at $122.93 on Friday. The stock’s fifty day moving average is $115.31 and its two-hundred day moving average is $115.78. The firm has a market capitalization of $23.64 billion, a P/E ratio of -50.59, a price-to-earnings-growth ratio of 6.20 and a beta of 0.71. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The company had revenue of $303.30 million for the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. As a group, sell-side analysts forecast that Franco-Nevada Co. will post 2.97 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.36 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s payout ratio is -55.97%.

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.