Franco-Nevada Corporation $FNV Shares Sold by O Brien Greene & Co. Inc

O Brien Greene & Co. Inc lessened its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,120 shares of the basic materials company’s stock after selling 3,249 shares during the quarter. Franco-Nevada accounts for about 3.3% of O Brien Greene & Co. Inc’s holdings, making the stock its 7th biggest position. O Brien Greene & Co. Inc’s holdings in Franco-Nevada were worth $10,726,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. AQR Capital Management LLC acquired a new position in Franco-Nevada during the first quarter worth about $241,000. NewEdge Advisors LLC boosted its stake in shares of Franco-Nevada by 16.7% during the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock worth $1,038,000 after acquiring an additional 943 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Franco-Nevada by 118.3% in the 1st quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after acquiring an additional 5,032 shares during the period. Acadian Asset Management LLC increased its stake in Franco-Nevada by 800.0% in the 1st quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock valued at $424,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Franco-Nevada by 37.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 80,096 shares of the basic materials company’s stock valued at $13,129,000 after purchasing an additional 21,708 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Up 3.9%

FNV opened at $270.67 on Tuesday. The firm has a market cap of $52.19 billion, a P/E ratio of 56.74, a PEG ratio of 1.29 and a beta of 0.47. The business’s fifty day simple moving average is $235.23 and its 200 day simple moving average is $211.15. Franco-Nevada Corporation has a 52 week low of $137.05 and a 52 week high of $273.55.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s payout ratio is presently 31.87%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. HC Wainwright increased their price objective on shares of Franco-Nevada from $210.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Canaccord Genuity Group downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, UBS Group restated a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a research report on Friday, January 30th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus price target of $254.38.

About Franco-Nevada

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.