Investment Management Corp of Ontario Raises Position in Equinix, Inc. (NASDAQ:EQIX)

Investment Management Corp of Ontario boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 39.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,518 shares of the financial services provider’s stock after buying an additional 1,277 shares during the period. Investment Management Corp of Ontario’s holdings in Equinix were worth $4,260,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EQIX. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday, May 1st. Wells Fargo & Company reduced their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. New Street Research raised shares of Equinix to a “strong-buy” rating in a research report on Monday, April 28th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Finally, BMO Capital Markets decreased 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 equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $1,005.11.

Equinix Price Performance

Shares of EQIX opened at $864.39 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The company has a market cap of $84.55 billion, a P/E ratio of 101.10, a PEG ratio of 1.78 and a beta of 0.97. The firm’s 50 day moving average price is $825.01 and its 200 day moving average price is $894.11.

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

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.17%. Equinix’s dividend payout ratio (DPR) is 195.01%.

Insider Buying and Selling

In other news, insider Kurt Pletcher sold 127 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider now owns 1,842 shares of the company’s stock, valued at approximately $1,616,723.40. This trade represents a 6.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the transaction, the director now directly owns 17,669 shares of the company’s stock, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,167 shares of company stock worth $6,658,536 over the last 90 days. 0.27% of the stock is owned by insiders.

About Equinix

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.