Franco-Nevada Corporation (NYSE:FNV) Shares Sold by Chevy Chase Trust Holdings LLC

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 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 521,540 shares of the basic materials company's stock after selling 12,036 shares during the period. Chevy Chase Trust Holdings LLC owned 0.27% of Franco-Nevada worth $82,174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 purchasing an additional 16,029 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Franco-Nevada by 5.0% in the fourth quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company's stock valued at $113,200,000 after acquiring an additional 45,495 shares during the last quarter. GAMMA Investing LLC acquired a new position in Franco-Nevada in the first quarter valued at approximately $1,415,000. Merit Financial Group LLC acquired a new position in Franco-Nevada in the first quarter valued at approximately $333,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Franco-Nevada by 113.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company's stock valued at $601,000 after acquiring an additional 2,710 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Up 1.0%

Shares of NYSE FNV opened at $167.48 on Tuesday. The firm has a market cap of $32.27 billion, a price-to-earnings ratio of 52.34, a PEG ratio of 2.30 and a beta of 0.42. Franco-Nevada Corporation has a 52-week low of $112.70 and a 52-week high of $179.99. The business's 50 day moving average is $168.05 and its two-hundred day moving average is $148.05.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. 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 prior year, the company earned $0.76 earnings per share. The company's revenue was up 43.5% on a year-over-year basis. Analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's dividend payout ratio is currently 47.50%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group upped their price objective on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 11th. Royal Bank Of Canada upped their price objective on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. HC Wainwright reiterated a "buy" rating and issued a $195.00 price objective (up from $180.00) on shares of Franco-Nevada in a report on Wednesday, May 28th. Raymond James Financial set a $186.00 price objective on Franco-Nevada and gave the company an "outperform" rating in a report on Wednesday, May 28th. Finally, Scotiabank upped their price objective on Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Franco-Nevada has an average rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.