Sumitomo Mitsui Trust Holdings Inc. Sells 11,813 Shares of Franco-Nevada Co. (NYSE:FNV)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 547,082 shares of the basic materials company’s stock after selling 11,813 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Franco-Nevada worth $60,797,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FNV. Sapient Capital LLC acquired a new position in Franco-Nevada during the fourth quarter worth $1,674,000. Blossom Wealth Management grew its holdings in shares of Franco-Nevada by 5.0% in the 4th quarter. Blossom Wealth Management now owns 2,535 shares of the basic materials company’s stock worth $281,000 after purchasing an additional 120 shares during the last quarter. Tobam increased its position in shares of Franco-Nevada by 34.3% during the 4th quarter. Tobam now owns 2,391 shares of the basic materials company’s stock worth $266,000 after purchasing an additional 611 shares in the last quarter. Fortune Financial Advisors LLC lifted its holdings in Franco-Nevada by 8.7% during the 4th quarter. Fortune Financial Advisors LLC now owns 4,873 shares of the basic materials company’s stock valued at $540,000 after purchasing an additional 390 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Franco-Nevada in the fourth quarter valued at about $3,447,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $121.65 on Friday. The company has a 50 day moving average of $113.86 and a 200-day moving average of $116.23. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $161.25. The stock has a market cap of $23.39 billion, a price-to-earnings ratio of -50.06, a P/E/G ratio of 6.42 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The company had revenue of $303.30 million for the quarter. Equities research analysts anticipate that Franco-Nevada Co. will post 2.76 earnings per share for the current year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued 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 1.18%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio (DPR) is -55.97%.

Analyst Ratings Changes

Several analysts have recently weighed in on FNV shares. Jefferies Financial Group began coverage on shares of Franco-Nevada in a report on Thursday, February 29th. They set a “hold” rating and a $117.00 price objective for the company. Raymond James lifted 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. Bank of America decreased their target price on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Scotiabank raised their target price on Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Hold” and an average price target of $147.40.

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.