Franco-Nevada Co. (NYSE:FNV) Shares Sold by Pring Turner Capital Group Inc.

Pring Turner Capital Group Inc. reduced its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,075 shares of the basic materials company’s stock after selling 1,952 shares during the period. Franco-Nevada comprises approximately 1.2% of Pring Turner Capital Group Inc.’s holdings, making the stock its 29th largest holding. Pring Turner Capital Group Inc.’s holdings in Franco-Nevada were worth $1,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new stake in Franco-Nevada in the fourth quarter worth $47,000. Point72 DIFC Ltd acquired a new stake in Franco-Nevada in the third quarter worth $52,000. Erste Asset Management GmbH acquired a new stake in Franco-Nevada in the third quarter worth $55,000. Principal Securities Inc. increased its position in Franco-Nevada by 290.5% in the fourth quarter. Principal Securities Inc. now owns 863 shares of the basic materials company’s stock worth $101,000 after buying an additional 642 shares during the period. Finally, Birch Capital Management LLC increased its position in Franco-Nevada by 37.9% in the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock worth $128,000 after buying an additional 298 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FNV shares. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 target price on shares of Franco-Nevada in a research report on Tuesday, January 28th. UBS Group began coverage on Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price target for the company. Scotiabank decreased their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada increased their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $146.71.

Franco-Nevada Stock Up 0.7 %

Shares of FNV stock opened at $139.72 on Tuesday. The stock has a 50-day simple moving average of $129.37 and a 200 day simple moving average of $126.04. Franco-Nevada Co. has a fifty-two week low of $103.64 and a fifty-two week high of $144.27. The stock has a market capitalization of $26.90 billion, a P/E ratio of -44.21, a P/E/G ratio of 9.78 and a beta of 0.74.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 1.09%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is currently -48.10%.

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.