King Luther Capital Management Corp Invests $236,000 in Franco-Nevada Corporation (NYSE:FNV)

Key Points

• King Luther Capital Management Corp has acquired 1,500 shares of Franco-Nevada Corporation (NYSE:FNV), valued at approximately $236,000, during the first quarter of the year.
• The company recently declared a quarterly dividend of $0.38 per share, which translates to an annualized dividend of $1.52 and a yield of 0.9%.
• Franco-Nevada posted earnings of $1.24 per share for the latest quarter, exceeding analysts' predictions and marking a 42% year-over-year revenue increase.

King Luther Capital Management Corp acquired a new position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,500 shares of the basic materials company's stock, valued at approximately $236,000.

Other institutional investors have also bought and sold shares of the company. CX Institutional acquired a new stake in Franco-Nevada in the 1st quarter valued at about $30,000. Cullen Frost Bankers Inc. acquired a new stake in Franco-Nevada in the 1st quarter valued at about $32,000. Nexus Investment Management ULC acquired a new stake in Franco-Nevada in the 1st quarter valued at about $35,000. Hexagon Capital Partners LLC lifted its holdings in Franco-Nevada by 494.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 188 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in Franco-Nevada by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Price Performance

NYSE:FNV traded down $0.35 during mid-day trading on Friday, reaching $177.02. The stock had a trading volume of 755,889 shares, compared to its average volume of 725,649. The business's 50 day moving average is $165.02 and its 200 day moving average is $158.83. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $180.98. The stock has a market cap of $34.11 billion, a P/E ratio of 43.49, a PEG ratio of 2.36 and a beta of 0.36.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced 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 return on equity of 12.56% and a net margin of 58.82%. The company had revenue of $369.40 million for the quarter, compared to the consensus estimate of $382.70 million. During the same quarter last year, the company posted $0.75 earnings per share. The company's revenue for the quarter was up 42.0% compared to the same quarter last year. Equities analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, September 11th. Franco-Nevada's dividend payout ratio (DPR) is 37.35%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FNV shares. Scotiabank upped their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a report on Tuesday. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Wall Street Zen lowered shares of Franco-Nevada from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $178.88.

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.