Vanguard Personalized Indexing Management LLC Raises Stock Holdings in Franco-Nevada Corporation $FNV

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Franco-Nevada Corporation by 22.8%, holding 6,640 shares valued at approximately $1,088,000 as of the end of the second quarter.
• Franco-Nevada reported earnings of $1.24 per share for the last quarter, surpassing the consensus estimate of $1.10, with a net margin of 58.82% and a revenue of $369.40 million.
• The company also paid a quarterly dividend of $0.38 on September 25th, which results in an annualized dividend yield of 0.7% and a payout ratio of 37.35%.

Vanguard Personalized Indexing Management LLC lifted its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 22.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,640 shares of the basic materials company's stock after acquiring an additional 1,235 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Franco-Nevada were worth $1,088,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Apollon Wealth Management LLC purchased a new stake in shares of Franco-Nevada in the second quarter worth $266,000. U S Global Investors Inc. raised its holdings in shares of Franco-Nevada by 8.8% during the 2nd quarter. U S Global Investors Inc. now owns 93,305 shares of the basic materials company's stock valued at $15,295,000 after buying an additional 7,532 shares in the last quarter. Louisbourg Investments Inc. bought a new stake in Franco-Nevada in the 2nd quarter worth approximately $3,032,000. Blue Trust Inc. boosted its stake in shares of Franco-Nevada by 10.9% in the 2nd quarter. Blue Trust Inc. now owns 973 shares of the basic materials company's stock valued at $160,000 after purchasing an additional 96 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of Franco-Nevada by 0.7% during the second quarter. US Bancorp DE now owns 22,774 shares of the basic materials company's stock valued at $3,733,000 after buying an additional 148 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

FNV opened at $203.81 on Friday. The company's 50-day simple moving average is $199.22 and its two-hundred day simple moving average is $176.45. Franco-Nevada Corporation has a 52-week low of $112.70 and a 52-week high of $225.63. The stock has a market capitalization of $39.28 billion, a P/E ratio of 50.08, a P/E/G ratio of 2.64 and a beta of 0.42.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.14. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The company had revenue of $369.40 million for the quarter, compared to the consensus estimate of $382.70 million. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The firm's revenue for the quarter was up 42.0% compared to the same quarter last year. Research analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. Franco-Nevada's dividend payout ratio (DPR) is presently 37.35%.

Wall Street Analysts Forecast Growth

FNV has been the topic of several recent research reports. UBS Group raised their price target on Franco-Nevada from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday. Bank of America increased their target price on shares of Franco-Nevada from $211.00 to $220.00 and gave the stock a "neutral" rating in a report on Thursday. HC Wainwright boosted their price target on Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Weiss Ratings lowered shares of Franco-Nevada from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Finally, CIBC reiterated an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Franco-Nevada has an average rating of "Hold" and an average target price of $210.29.

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.

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