Franco-Nevada Corporation $FNV Holdings Raised by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in Franco-Nevada Corporation by 53.8%, acquiring an additional 309,161 shares to reach a total of 883,293 shares valued at approximately $138.9 million.
• Franco-Nevada recently announced a quarterly dividend of $0.38, with a payout ratio of 37.35%, highlighting its commitment to returning value to shareholders.
• The company's earnings results showed an EPS of $1.24 for the last quarter, exceeding estimates, alongside a significant 42% year-over-year revenue growth.

Canada Pension Plan Investment Board increased its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 53.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 883,293 shares of the basic materials company's stock after acquiring an additional 309,161 shares during the period. Canada Pension Plan Investment Board owned approximately 0.46% of Franco-Nevada worth $138,945,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in shares of Franco-Nevada by 1,583.3% in the first quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company's stock valued at $2,067,000 after acquiring an additional 12,350 shares in the last quarter. St. James Investment Company LLC boosted its holdings in shares of Franco-Nevada by 29.3% in the first quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company's stock valued at $34,661,000 after acquiring an additional 49,907 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Franco-Nevada by 36.1% in the first quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company's stock valued at $9,200,000 after acquiring an additional 15,483 shares in the last quarter. D.A. Davidson & CO. bought a new position in shares of Franco-Nevada in the first quarter valued at approximately $265,000. Finally, Fullcircle Wealth LLC boosted its holdings in shares of Franco-Nevada by 25.7% in the first quarter. Fullcircle Wealth LLC now owns 8,964 shares of the basic materials company's stock valued at $1,531,000 after acquiring an additional 1,835 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

Shares of NYSE:FNV traded up $2.07 during mid-day trading on Tuesday, hitting $190.42. The stock had a trading volume of 1,086,006 shares, compared to its average volume of 822,133. The company has a market cap of $36.69 billion, a PE ratio of 46.79, a P/E/G ratio of 2.51 and a beta of 0.41. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $191.56. The company's 50 day moving average is $168.28 and its 200-day moving average is $162.42.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued 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. The business had revenue of $369.40 million during the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm's quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. On average, equities research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on FNV. Raymond James Financial raised their target price on shares of Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Scotiabank raised their target price 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. UBS Group raised their target price 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. Zacks Research cut shares of Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Sunday, August 24th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.