Massachusetts Financial Services Co. MA Has $2.42 Billion Stock Holdings in Franco-Nevada Corporation $FNV

Key Points

• Massachusetts Financial Services Co. MA slightly increased its stake in Franco‑Nevada to 11,688,537 shares — a 6.06% ownership stake valued at about $2.42 billion, making FNV the firm's 21st largest holding and ~0.8% of its portfolio.
• Franco‑Nevada beat expectations with Q earnings of $1.85 vs. $1.67 estimated and revenue of $597.3M (up 86.1% year‑over‑year), signaling strong operating results.
• Dividend and analyst view: the company raised its quarterly dividend to $0.44 ($1.76 annualized, 0.7% yield) while analysts hold a mixed stance — consensus "Moderate Buy" with an average price target of $257.25.

Massachusetts Financial Services Co. MA boosted its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,688,537 shares of the basic materials company's stock after purchasing an additional 21,333 shares during the period. Franco-Nevada accounts for about 0.8% of Massachusetts Financial Services Co. MA's investment portfolio, making the stock its 21st biggest holding. Massachusetts Financial Services Co. MA owned 6.06% of Franco-Nevada worth $2,422,800,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. raised its stake in Franco-Nevada by 8.1% in the third quarter. TD Waterhouse Canada Inc. now owns 275,747 shares of the basic materials company's stock valued at $59,623,000 after buying an additional 20,664 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Franco-Nevada by 4.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 114,465 shares of the basic materials company's stock valued at $25,515,000 after buying an additional 4,900 shares during the period. Osaic Holdings Inc. raised its stake in Franco-Nevada by 210.4% in the second quarter. Osaic Holdings Inc. now owns 18,235 shares of the basic materials company's stock valued at $2,989,000 after buying an additional 12,360 shares during the period. Gruss & Co. LLC bought a new stake in Franco-Nevada in the third quarter valued at approximately $557,000. Finally, TD Asset Management Inc raised its stake in Franco-Nevada by 0.9% in the third quarter. TD Asset Management Inc now owns 2,030,684 shares of the basic materials company's stock valued at $452,095,000 after buying an additional 18,897 shares during the period. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Performance

FNV opened at $261.39 on Friday. The firm has a market cap of $50.40 billion, a P/E ratio of 45.38, a price-to-earnings-growth ratio of 2.79 and a beta of 0.47. Franco-Nevada Corporation has a 52-week low of $152.89 and a 52-week high of $285.67. The business's fifty day moving average is $252.14 and its 200-day moving average is $226.14.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.18. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The company had revenue of $597.30 million for the quarter, compared to analyst estimates of $542.02 million. During the same period in the prior year, the firm posted $0.95 EPS. Franco-Nevada's quarterly revenue was up 86.1% on a year-over-year basis. On average, research analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, March 12th. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. This is an increase from Franco-Nevada's previous quarterly dividend of $0.38. Franco-Nevada's dividend payout ratio is currently 30.56%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. HC Wainwright increased their target price on Franco-Nevada from $285.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, March 12th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Weiss Ratings upgraded Franco-Nevada from a "hold (c+)" rating to a "buy (b)" rating in a research note on Friday, March 20th. Zacks Research lowered Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Finally, Canaccord Genuity Group lowered Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 23rd. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $257.25.

Franco-Nevada Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company's business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.

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