Intech Investment Management LLC Raises Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Intech Investment Management LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.6% in the fourth quarter, HoldingsChannel reports. The firm owned 2,789 shares of the financial services provider’s stock after buying an additional 16 shares during the period. Intech Investment Management LLC’s holdings in Equinix were worth $2,630,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its stake in shares of Equinix by 61.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock worth $7,946,000 after purchasing an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Equinix by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock worth $592,191,000 after purchasing an additional 2,560 shares during the last quarter. National Pension Service raised its stake in Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock valued at $229,263,000 after buying an additional 3,164 shares during the last quarter. Brookfield Corp ON raised its stake in Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after buying an additional 32,481 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in Equinix by 19.2% in the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after buying an additional 404 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the transaction, the director now owns 17,669 shares in the company, valued at approximately $16,117,838.49. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock worth $17,466,950 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EQIX. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research note on Thursday, February 13th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company decreased their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Oppenheimer increased their price target on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Scotiabank increased their price objective on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix presently has an average rating of “Buy” and a consensus price target of $989.35.

Equinix Stock Up 1.7 %

Equinix stock opened at $855.33 on Thursday. The firm has a market cap of $83.25 billion, a price-to-earnings ratio of 100.04, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The business’s 50-day moving average price is $906.85 and its 200 day moving average price is $908.67. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is 219.42%.

Equinix Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.