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

Intech Investment Management LLC increased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,789 shares of the financial services provider’s stock after acquiring an additional 16 shares during the quarter. Intech Investment Management LLC’s holdings in Equinix were worth $2,630,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Equinix by 1.4% in the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after acquiring an additional 81,941 shares during the period. Geode Capital Management LLC lifted its position in Equinix by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after buying an additional 33,277 shares during the period. Principal Financial Group Inc. lifted its position in Equinix by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock valued at $1,827,847,000 after buying an additional 44,471 shares during the period. JPMorgan Chase & Co. lifted its position in Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after buying an additional 203,656 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Equinix by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider’s stock valued at $1,107,860,000 after buying an additional 40,791 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $16,117,838.49. This represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada raised their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. JMP Securities restated a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Oppenheimer raised their price target on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Scotiabank raised their price target 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. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $989.35.

Equinix Stock Performance

NASDAQ:EQIX opened at $855.33 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The stock’s 50 day simple moving average is $906.85 and its two-hundred day simple moving average is $908.67. The company has a market cap of $83.25 billion, a price-to-earnings ratio of 100.04, a PEG ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data 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, equities analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

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

Equinix Company 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.