Franco-Nevada Co. (NYSE:FNV) Shares Purchased by Essex Financial Services Inc.

Essex Financial Services Inc. raised its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,892 shares of the basic materials company’s stock after acquiring an additional 84 shares during the period. Essex Financial Services Inc.’s holdings in Franco-Nevada were worth $458,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new stake in shares of Franco-Nevada in the 4th quarter worth approximately $47,000. Point72 DIFC Ltd acquired a new position in shares of Franco-Nevada during the third quarter valued at $52,000. Erste Asset Management GmbH bought a new position in shares of Franco-Nevada during the third quarter worth about $55,000. Birch Capital Management LLC increased its holdings in shares of Franco-Nevada by 37.9% in the 4th quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 298 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in Franco-Nevada in the 3rd quarter valued at about $147,000. 77.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on FNV. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 price target on shares of Franco-Nevada in a research note on Tuesday, January 28th. Royal Bank of Canada upped their target price on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Jefferies Financial Group reduced their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $146.71.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $142.43 on Thursday. Franco-Nevada Co. has a fifty-two week low of $103.64 and a fifty-two week high of $143.77. The firm’s 50 day simple moving average is $126.40 and its 200-day simple moving average is $125.10. The company has a market cap of $27.42 billion, a P/E ratio of -45.07, a price-to-earnings-growth ratio of 9.88 and a beta of 0.74.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.07%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s payout ratio is presently -45.57%.

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.