Schwartz Investment Counsel Inc. Reduces Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Schwartz Investment Counsel Inc. lowered its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 26.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 93,700 shares of the basic materials company's stock after selling 33,800 shares during the quarter. Schwartz Investment Counsel Inc.'s holdings in Franco-Nevada were worth $10,383,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Franco-Nevada in the 4th quarter valued at $219,378,000. Bank of America Corp DE lifted its holdings in Franco-Nevada by 69.9% in the 1st quarter. Bank of America Corp DE now owns 2,679,436 shares of the basic materials company's stock valued at $390,662,000 after purchasing an additional 1,102,710 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in Franco-Nevada by 119.3% in the 3rd quarter. Quadrature Capital Ltd now owns 581,900 shares of the basic materials company's stock valued at $78,184,000 after purchasing an additional 316,600 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in Franco-Nevada by 270.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 405,712 shares of the basic materials company's stock valued at $54,414,000 after purchasing an additional 296,169 shares in the last quarter. Finally, Triasima Portfolio Management inc. purchased a new position in Franco-Nevada in the 4th quarter valued at $33,842,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded up $1.70 during midday trading on Tuesday, reaching $121.84. 549,305 shares of the company's stock were exchanged, compared to its average volume of 741,902. The firm's 50 day simple moving average is $111.95 and its two-hundred day simple moving average is $116.84. The stock has a market cap of $23.41 billion, a price-to-earnings ratio of -50.12, a P/E/G ratio of 6.90 and a beta of 0.71. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $161.25.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The business had revenue of $303.30 million during the quarter. Equities research analysts predict that Franco-Nevada Co. will post 2.68 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. This is a boost from Franco-Nevada's previous quarterly dividend of $0.34. Franco-Nevada's payout ratio is currently -55.97%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Bank of America reduced their price target on Franco-Nevada from $138.00 to $136.00 and set a "buy" rating on the stock in a report on Monday, March 18th. Jefferies Financial Group assumed coverage on Franco-Nevada in a report on Thursday, February 29th. They set a "hold" rating and a $117.00 price target on the stock. Scotiabank reduced their price target on Franco-Nevada from $141.00 to $139.00 and set a "sector perform" rating on the stock in a report on Thursday, March 7th. TheStreet lowered Franco-Nevada from a "c+" rating to a "d+" rating in a report on Tuesday, March 5th. Finally, Raymond James reduced their price target on Franco-Nevada from $148.00 to $141.00 and set an "outperform" rating on the stock in a report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada has a consensus rating of "Hold" and an average target price of $147.30.

About Franco-Nevada

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.