Cardinal Capital Management Inc. Has $13.97 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Cardinal Capital Management Inc. raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.8% in the first quarter, Holdings Channel.com reports. The fund owned 17,130 shares of the financial services provider’s stock after acquiring an additional 302 shares during the quarter. Cardinal Capital Management Inc.’s holdings in Equinix were worth $13,967,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new stake in Equinix in the fourth quarter valued at approximately $28,000. Kestra Investment Management LLC acquired a new stake in shares of Equinix in the fourth quarter worth $31,000. Pacific Center for Financial Services lifted its stake in shares of Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after buying an additional 15 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in shares of Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock worth $33,000 after buying an additional 23 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Equinix in the fourth quarter worth $39,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Trading Down 0.8%

Shares of Equinix stock opened at $907.48 on Tuesday. The company’s fifty day moving average price is $841.17 and its two-hundred day moving average price is $890.04. 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 52-week low of $701.41 and a 52-week high of $994.03. The firm has a market capitalization of $88.77 billion, a PE ratio of 106.14, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

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

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s payout ratio is 195.01%.

Insider Transactions at Equinix

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the transaction, the chief executive officer now owns 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director now owns 17,569 shares in the company, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of 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. Stifel Nicolaus boosted their target price on shares of Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Wolfe Research lowered shares of Equinix from an “outperform” rating to a “peer perform” rating in a research report on Monday. Truist Financial dropped their target price on shares of Equinix from $990.00 to $986.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Finally, Barclays boosted their target price on shares of Equinix from $834.00 to $837.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 27th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $1,004.80.

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.