Man Group plc Sells 43,993 Shares of Franco-Nevada Co. (NYSE:FNV)

Man Group plc trimmed its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 27.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,858 shares of the basic materials company's stock after selling 43,993 shares during the quarter. Man Group plc owned 0.06% of Franco-Nevada worth $13,490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Franco-Nevada in the 4th quarter valued at $237,643,000. EdgePoint Investment Group Inc. boosted its position in shares of Franco-Nevada by 49.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock valued at $582,100,000 after acquiring an additional 1,650,358 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Franco-Nevada by 246.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock valued at $136,796,000 after acquiring an additional 828,166 shares during the period. Capital World Investors increased its stake in Franco-Nevada by 9.8% in the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock valued at $934,106,000 after acquiring an additional 711,591 shares during the period. Finally, Proficio Capital Partners LLC raised its position in Franco-Nevada by 11,659.0% in the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company's stock worth $56,762,000 after purchasing an additional 478,602 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

Shares of FNV stock traded up $4.07 during trading hours on Friday, hitting $168.10. 193,403 shares of the company's stock were exchanged, compared to its average volume of 723,939. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $178.74. The stock has a market cap of $32.37 billion, a price-to-earnings ratio of -53.18, a price-to-earnings-growth ratio of 9.78 and a beta of 0.45. The stock's 50-day moving average is $161.42 and its 200-day moving average is $140.43.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $368.40 million for the quarter, compared to the consensus estimate of $328.79 million. During the same quarter in the prior year, the company earned $0.76 EPS. The firm's quarterly revenue was up 43.5% on a year-over-year basis. Equities research analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.90%. Franco-Nevada's payout ratio is 47.50%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective on the stock. in a report on Tuesday, March 11th. Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. UBS Group upped their price target on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Scotiabank lifted 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. Finally, National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research note on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Franco-Nevada presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.75.

Franco-Nevada Company 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.