Sentry Investment Management LLC Trims Stake in Equinix, Inc. (NASDAQ:EQIX)

Sentry Investment Management LLC cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 14.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 387 shares of the financial services provider’s stock after selling 63 shares during the period. Sentry Investment Management LLC’s holdings in Equinix were worth $365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after buying an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after acquiring an additional 398,494 shares during the period. Adelante Capital Management LLC grew its stake in shares of Equinix by 202.3% during the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after acquiring an additional 344,114 shares during the period. JPMorgan Chase & Co. increased its holdings in Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after acquiring an additional 203,656 shares in the last quarter. Finally, abrdn plc raised its stake in Equinix by 49.2% during the 4th quarter. abrdn plc now owns 464,840 shares of the financial services provider’s stock worth $437,563,000 after acquiring an additional 153,215 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Down 0.3 %

Shares of EQIX opened at $906.66 on Wednesday. The stock has a market capitalization of $88.25 billion, a PE ratio of 106.04, a P/E/G ratio of 1.78 and a beta of 0.72. The company’s fifty day moving average is $929.20 and its 200 day moving average is $904.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

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

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.07%. Equinix’s dividend payout ratio is 219.42%.

Insider Activity

In related news, Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the sale, the chairman now owns 15,233 shares in the company, valued at approximately $13,859,135.73. This represents a 27.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,741 shares of company stock valued at $21,988,532 in the last ninety days. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EQIX. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets dropped their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Scotiabank dropped their price objective on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Finally, Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $994.82.

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.