Great Lakes Retirement Inc. Boosts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Great Lakes Retirement Inc. raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 975 shares of the financial services provider’s stock after buying an additional 12 shares during the period. Great Lakes Retirement Inc.’s holdings in Equinix were worth $920,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EQIX. CWM LLC boosted its position in Equinix by 5.6% during the third quarter. CWM LLC now owns 1,702 shares of the financial services provider’s stock valued at $1,511,000 after buying an additional 90 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of Equinix by 27.5% during the third quarter. Ritholtz Wealth Management now owns 659 shares of the financial services provider’s stock worth $585,000 after purchasing an additional 142 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Equinix during the third quarter worth about $328,000. Wedge Capital Management L L P NC boosted its holdings in shares of Equinix by 15.2% during the third quarter. Wedge Capital Management L L P NC now owns 4,617 shares of the financial services provider’s stock worth $4,098,000 after purchasing an additional 609 shares during the period. Finally, Creative Planning boosted its holdings in shares of Equinix by 16.7% during the third quarter. Creative Planning now owns 7,754 shares of the financial services provider’s stock worth $6,883,000 after purchasing an additional 1,111 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EQIX has been the subject of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday, February 6th. Truist Financial increased their target price on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. TD Cowen increased their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus increased their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Evercore ISI raised their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Equinix has a consensus rating of “Buy” and a consensus price target of $996.06.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $935.20 on Thursday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The company has a 50 day simple moving average of $937.53 and a two-hundred day simple moving average of $894.48. The company has a market capitalization of $90.24 billion, a price-to-earnings ratio of 84.33, a P/E/G ratio of 2.23 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. Analysts expect that Equinix, Inc. will post 31.09 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.01%. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,801 shares of company stock valued at $15,530,564 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.