Advisor Group Holdings Inc. Reduces Stock Position in Franco-Nevada Co. (NYSE:FNV)

Advisor Group Holdings Inc. reduced its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.9% in the third quarter, HoldingsChannel.com reports. The firm owned 25,022 shares of the basic materials company’s stock after selling 1,575 shares during the period. Advisor Group Holdings Inc.’s holdings in Franco-Nevada were worth $3,251,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BerganKDV Wealth Management LLC boosted its holdings in shares of Franco-Nevada by 20,000.0% during the second quarter. BerganKDV Wealth Management LLC now owns 201 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 200 shares during the period. Archer Investment Corp purchased a new stake in shares of Franco-Nevada during the third quarter worth about $45,000. Evermay Wealth Management LLC bought a new position in Franco-Nevada in the second quarter worth about $66,000. NEXT Financial Group Inc bought a new position in Franco-Nevada in the third quarter worth about $90,000. Finally, St. Johns Investment Management Company LLC raised its stake in Franco-Nevada by 12.6% in the third quarter. St. Johns Investment Management Company LLC now owns 927 shares of the basic materials company’s stock worth $120,000 after buying an additional 104 shares in the last quarter. Institutional investors own 67.55% of the company’s stock.

NYSE:FNV opened at $130.04 on Friday. The company’s 50 day moving average price is $136.57 and its 200-day moving average price is $141.68. Franco-Nevada Co. has a 52 week low of $105.62 and a 52 week high of $163.79. The stock has a market cap of $24.88 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 9.61 and a beta of 0.66.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, November 3rd. The basic materials company reported $0.87 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.87. Franco-Nevada had a net margin of 54.00% and a return on equity of 11.86%. The firm had revenue of $316.30 million for the quarter, compared to analysts’ expectations of $323.39 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. On average, sell-side analysts forecast that Franco-Nevada Co. will post 3.36 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 23rd. Investors of record on Thursday, December 9th were issued a $0.242 dividend. This represents a $0.97 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Wednesday, December 8th. Franco-Nevada’s dividend payout ratio is currently 33.24%.

FNV has been the subject of a number of research reports. HC Wainwright initiated coverage on shares of Franco-Nevada in a research note on Monday, December 20th. They issued a “buy” rating and a $167.00 price target for the company. Zacks Investment Research raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $143.00 price target for the company in a research note on Tuesday, January 4th. Raymond James set a $164.00 price target on shares of Franco-Nevada and gave the stock an “outperform” rating in a research note on Thursday, November 4th. KeyCorp decreased their price target on shares of Franco-Nevada from $156.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, December 20th. Finally, raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, October 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $175.21.

Franco-Nevada Company Profile

Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded on October 17, 2007 and is headquartered in Toronto, Canada.

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Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

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