USS Investment Management Ltd Trims Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

USS Investment Management Ltd lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,004 shares of the financial services provider’s stock after selling 2,061 shares during the quarter. USS Investment Management Ltd’s holdings in Equinix were worth $16,035,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EQIX. Kestra Investment Management LLC purchased a new position in shares of Equinix during the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new position in shares of Equinix during the fourth quarter worth $39,000. Sierra Ocean LLC acquired a new stake in shares of Equinix in the fourth quarter valued at $42,000. Thompson Investment Management Inc. purchased a new stake in shares of Equinix in the 4th quarter valued at $47,000. Finally, Cary Street Partners Financial LLC acquired a new position in Equinix during the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of EQIX opened at $875.89 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The firm has a market capitalization of $85.68 billion, a PE ratio of 102.44, a P/E/G ratio of 1.78 and a beta of 0.97. The stock’s 50 day moving average is $826.75 and its two-hundred day moving average is $892.44.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equinix’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $8.86 earnings per share. Research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is 195.01%.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. This trade represents a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider now owns 1,842 shares in the company, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 911 shares of company stock worth $841,718 in the last quarter. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EQIX shares. Stifel Nicolaus lifted their target price on Equinix from $1,030.00 to $1,050.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Bank of America started coverage on shares of Equinix in a report on Monday. They issued a “buy” rating and a $1,000.00 price objective for the company. Citigroup upped their target price on shares of Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Mizuho reduced their price target on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research report on Friday, March 28th. Finally, BMO Capital Markets reduced their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $1,004.65.

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.