Baird Financial Group Inc. Grows Stock Position in Franco-Nevada Corporation $FNV

Key Points

• Baird Financial Group Inc. increased its stake in Franco-Nevada Corporation by 22.1%, owning 137,395 shares valued at approximately $21.65 million as of the last reporting period.
• Franco-Nevada reported a quarterly earnings of $1.24 per share, exceeding analyst expectations and reflecting a 42% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.38, which translates to an annualized dividend of $1.52 and a yield of 0.8%, with a payout ratio of 37.35%.

Baird Financial Group Inc. raised its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 22.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,395 shares of the basic materials company's stock after purchasing an additional 24,834 shares during the period. Baird Financial Group Inc. owned about 0.07% of Franco-Nevada worth $21,648,000 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 FNV. CX Institutional purchased a new position in shares of Franco-Nevada during the first quarter valued at approximately $30,000. Cullen Frost Bankers Inc. purchased a new position in shares of Franco-Nevada during the first quarter valued at approximately $32,000. Nexus Investment Management ULC purchased a new position in shares of Franco-Nevada during the first quarter valued at approximately $35,000. Golden State Wealth Management LLC lifted its stake in shares of Franco-Nevada by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after buying an additional 115 shares during the period. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Franco-Nevada by 494.7% during the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after buying an additional 188 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

NYSE FNV opened at $188.67 on Tuesday. Franco-Nevada Corporation has a one year low of $112.70 and a one year high of $189.00. The company's 50 day moving average price is $168.28 and its 200 day moving average price is $162.42. The firm has a market capitalization of $36.36 billion, a price-to-earnings ratio of 46.36, a PEG ratio of 2.51 and a beta of 0.41.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.10 by $0.14. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. During the same quarter last year, the firm posted $0.75 earnings per share. Franco-Nevada's revenue for the quarter was up 42.0% compared to the same quarter last year. Sell-side analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be issued a $0.38 dividend. The ex-dividend date is Thursday, September 11th. This represents a $1.52 annualized dividend and a yield of 0.8%. Franco-Nevada's dividend payout ratio (DPR) is presently 37.35%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FNV. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. HC Wainwright increased their price objective on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Scotiabank increased their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. Royal Bank Of Canada increased their price objective on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Finally, UBS Group increased their price objective on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $178.88.

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.

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