Envestnet Asset Management Inc. Has $5.05 Million Holdings in Franco-Nevada Co. (NYSE:FNV)

Envestnet Asset Management Inc. lifted its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 42.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,905 shares of the basic materials company's stock after purchasing an additional 12,688 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Franco-Nevada were worth $5,045,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Van ECK Associates Corp raised its stake in shares of Franco-Nevada by 2.3% during the fourth 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 purchasing an additional 193,968 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Franco-Nevada by 1.7% during the fourth 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 in the last quarter. First Eagle Investment Management LLC grew its holdings in Franco-Nevada by 3.3% during the fourth quarter. First Eagle Investment Management LLC now owns 3,366,544 shares of the basic materials company's stock worth $395,113,000 after acquiring an additional 107,043 shares during the period. Norges Bank acquired a new position in Franco-Nevada during the fourth quarter worth about $237,643,000. Finally, TD Asset Management Inc. grew its holdings in Franco-Nevada by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 1,804,599 shares of the basic materials company's stock worth $211,954,000 after acquiring an additional 48,777 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock traded up $0.57 during trading on Monday, hitting $170.66. 907,693 shares of the stock traded hands, compared to its average volume of 707,509. The stock has a market cap of $32.86 billion, a P/E ratio of -54.01, a PEG ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a twelve month low of $112.70 and a twelve month high of $178.74. The company has a fifty day moving average price of $154.08 and a two-hundred day moving average price of $136.48.

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

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.89%. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. Franco-Nevada's payout ratio is currently 53.15%.

Wall Street Analysts Forecast Growth

FNV has been the topic of a number of analyst reports. TD Securities cut Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target on the stock. in a research note on Tuesday, March 11th. BMO Capital Markets initiated coverage on Franco-Nevada in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Royal Bank of Canada lifted their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. StockNews.com raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Finally, Scotiabank lifted their target price on Franco-Nevada from $150.00 to $165.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating and eight have issued 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 price target of $162.25.

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.