Franco-Nevada Co. (NYSE:FNV) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FNV. Laurel Wealth Advisors LLC acquired a new position in shares of Franco-Nevada during the fourth quarter valued at about $47,000. Point72 DIFC Ltd purchased a new position in Franco-Nevada during the 3rd quarter worth approximately $52,000. Erste Asset Management GmbH purchased a new position in Franco-Nevada during the 3rd quarter worth approximately $55,000. Birch Capital Management LLC raised its position in Franco-Nevada by 37.9% during the 4th quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock worth $128,000 after buying an additional 298 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Franco-Nevada during the 3rd quarter worth approximately $147,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $144.00 on Friday. The company’s fifty day moving average price is $126.81 and its 200 day moving average price is $125.23. Franco-Nevada Co. has a 1 year low of $103.64 and a 1 year high of $144.27. The stock has a market capitalization of $27.73 billion, a P/E ratio of -45.57, a P/E/G ratio of 9.88 and a beta of 0.74.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 1.06%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is currently -48.10%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FNV. Scotiabank reduced their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Jefferies Financial Group dropped their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. UBS Group started coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 price objective on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.71.

Franco-Nevada Company 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.