Baird Financial Group Inc. Cuts Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Baird Financial Group Inc. decreased its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 16.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,561 shares of the basic materials company's stock after selling 21,972 shares during the quarter. Baird Financial Group Inc. owned approximately 0.06% of Franco-Nevada worth $13,236,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FNV. Van ECK Associates Corp increased its stake in Franco-Nevada by 2.3% in the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company's stock valued at $1,004,046,000 after buying an additional 193,968 shares during the last quarter. Capital World Investors boosted its position in Franco-Nevada by 9.8% in the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock worth $934,106,000 after purchasing an additional 711,591 shares during the last quarter. Vanguard Group Inc. grew its stake in Franco-Nevada by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company's stock valued at $916,540,000 after purchasing an additional 132,465 shares during the period. Bank of Montreal Can increased its position in shares of Franco-Nevada by 0.3% during the 4th quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company's stock valued at $622,124,000 after purchasing an additional 15,273 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Franco-Nevada by 10.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,286,661 shares of the basic materials company's stock worth $504,069,000 after buying an additional 400,384 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

NYSE:FNV opened at $170.49 on Thursday. Franco-Nevada Co. has a 1-year low of $112.70 and a 1-year high of $178.74. The business has a 50 day moving average of $158.02 and a 200 day moving average of $138.38. The company has a market capitalization of $32.83 billion, a price-to-earnings ratio of -53.95, a PEG ratio of 9.78 and a beta of 0.45.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. The company had revenue of $321.00 million during the quarter, compared to analysts' expectations of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. As a group, sell-side analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FNV. UBS Group increased their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Raymond James raised their target price on Franco-Nevada from $162.00 to $181.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. HC Wainwright upped their price target on Franco-Nevada from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. Royal Bank of Canada lifted their price objective on Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a research note on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Franco-Nevada has a consensus rating of "Moderate Buy" and an average target price of $162.25.

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.

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