Intact Investment Management Inc. Purchases New Shares in Equinix, Inc. (NASDAQ:EQIX)

Intact Investment Management Inc. purchased a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,320 shares of the financial services provider’s stock, valued at approximately $2,512,000.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Equinix during the fourth quarter valued at $408,750,000. Atria Wealth Solutions Inc. increased its position in Equinix by 3.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,153 shares of the financial services provider’s stock valued at $929,000 after acquiring an additional 43 shares during the last quarter. Kestra Private Wealth Services LLC bought a new position in Equinix during the fourth quarter valued at $1,217,000. Savant Capital LLC increased its position in Equinix by 1.9% during the fourth quarter. Savant Capital LLC now owns 856 shares of the financial services provider’s stock valued at $689,000 after acquiring an additional 16 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Equinix by 8.0% during the fourth quarter. Victory Capital Management Inc. now owns 53,867 shares of the financial services provider’s stock valued at $43,384,000 after acquiring an additional 3,997 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Truist Financial upped their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. TD Cowen upped their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on shares of Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price target on the stock. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Finally, Mizuho assumed coverage on shares of Equinix in a report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $876.71.

Equinix Stock Up 1.9 %

NASDAQ EQIX traded up $15.62 during trading on Friday, reaching $834.36. 520,988 shares of the company’s stock traded hands, compared to its average volume of 552,091. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $79.19 billion, a price-to-earnings ratio of 83.69, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68. The company’s 50 day simple moving average is $792.98 and its two-hundred day simple moving average is $795.31. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 11.32% and a return on equity of 7.73%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the business posted $8.04 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that Equinix, Inc. will post 31.23 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

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.