Sumitomo Mitsui Trust Holdings Inc. Has $60.80 Million Holdings in Franco-Nevada Co. (NYSE:FNV)

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 547,082 shares of the basic materials company’s stock after selling 11,813 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Franco-Nevada were worth $60,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV boosted its stake in Franco-Nevada by 3.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,234 shares of the basic materials company’s stock worth $319,000 after acquiring an additional 73 shares in the last quarter. IHT Wealth Management LLC boosted its position in shares of Franco-Nevada by 4.6% during the 4th quarter. IHT Wealth Management LLC now owns 1,782 shares of the basic materials company’s stock worth $329,000 after purchasing an additional 78 shares in the last quarter. Fortune Financial Advisors LLC grew its stake in shares of Franco-Nevada by 1.8% in the 3rd quarter. Fortune Financial Advisors LLC now owns 4,483 shares of the basic materials company’s stock valued at $598,000 after buying an additional 81 shares during the period. Thrivent Financial for Lutherans increased its position in Franco-Nevada by 1.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,236 shares of the basic materials company’s stock valued at $626,000 after buying an additional 85 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Franco-Nevada by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 16,463 shares of the basic materials company’s stock worth $2,247,000 after buying an additional 94 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Up 1.0 %

Shares of Franco-Nevada stock opened at $121.65 on Friday. The firm has a market capitalization of $23.39 billion, a P/E ratio of -50.06, a price-to-earnings-growth ratio of 6.42 and a beta of 0.71. The business’s fifty day simple moving average is $113.86 and its 200 day simple moving average is $116.23. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $161.25.

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 the consensus estimate of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The company had revenue of $303.30 million during the quarter. Analysts predict that Franco-Nevada Co. will post 2.76 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Wednesday, March 13th. Franco-Nevada’s dividend payout ratio is currently -55.97%.

Analyst Upgrades and Downgrades

FNV has been the subject of a number of research reports. TheStreet cut Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Scotiabank boosted their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research note on Thursday. 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 on the stock. Bank of America reduced their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a report on Monday, March 18th. Finally, Raymond James upped their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $147.40.

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.