Chevy Chase Trust Holdings LLC Sells 12,036 Shares of Franco-Nevada Corporation (NYSE:FNV)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 521,540 shares of the basic materials company's stock after selling 12,036 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.27% of Franco-Nevada worth $82,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Franco-Nevada by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company's stock worth $49,702,000 after acquiring an additional 16,029 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Franco-Nevada by 5.0% in the fourth quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company's stock worth $113,200,000 after purchasing an additional 45,495 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Franco-Nevada in the first quarter worth approximately $1,415,000. Merit Financial Group LLC bought a new position in shares of Franco-Nevada in the first quarter worth approximately $333,000. Finally, Autumn Glory Partners LLC bought a new position in shares of Franco-Nevada in the first quarter worth approximately $315,000. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Down 2.1%

Shares of FNV stock traded down $3.45 during mid-day trading on Friday, reaching $161.27. 1,258,419 shares of the company's stock traded hands, compared to its average volume of 743,985. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $179.99. The company's 50-day moving average price is $167.44 and its 200-day moving average price is $148.83. The company has a market cap of $31.07 billion, a P/E ratio of 50.40, a P/E/G ratio of 2.29 and a beta of 0.42.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The business had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. During the same quarter in the previous year, the firm posted $0.76 earnings per share. Franco-Nevada's quarterly revenue was up 43.5% on a year-over-year basis. Equities analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Thursday, June 12th. Franco-Nevada's dividend payout ratio (DPR) is 47.50%.

Analyst Ratings Changes

Several research firms recently issued reports on FNV. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday. Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. HC Wainwright reiterated a "buy" rating and issued a $195.00 price target (up previously from $180.00) on shares of Franco-Nevada in a report on Wednesday, May 28th. Royal Bank Of Canada lifted their price target on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, Raymond James Financial set a $186.00 target price on shares of Franco-Nevada and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Franco-Nevada presently has a consensus rating of "Moderate Buy" and a consensus price target of $169.63.

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.