Heritage Investors Management Corp Raises Stake in Equinix, Inc. (NASDAQ:EQIX)

Heritage Investors Management Corp grew its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,210 shares of the financial services provider’s stock after acquiring an additional 121 shares during the quarter. Heritage Investors Management Corp’s holdings in Equinix were worth $26,599,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its holdings in Equinix by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,274 shares of the financial services provider’s stock worth $7,801,000 after acquiring an additional 119 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in Equinix by 1.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,224 shares of the financial services provider’s stock worth $1,154,000 after buying an additional 20 shares during the period. National Pension Service grew its position in shares of Equinix by 1.3% in the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock worth $229,263,000 after buying an additional 3,164 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in shares of Equinix by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock valued at $713,000 after buying an additional 12 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Equinix by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after acquiring an additional 2,560 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EQIX has been the topic of several recent analyst reports. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Stifel Nicolaus boosted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Truist Financial raised their price objective 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. Finally, Scotiabank cut their price objective on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. 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 data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $994.82.

Equinix Stock Performance

Shares of Equinix stock opened at $910.03 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. The stock has a market cap of $88.58 billion, a price-to-earnings ratio of 106.44, a PEG ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The firm’s 50-day moving average is $928.88 and its 200 day moving average is $904.07.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Sell-side analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.06%. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio is presently 219.42%.

Insider Buying and Selling at Equinix

In other news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the transaction, the chief financial officer now owns 18,966 shares in the company, valued at $18,419,399.88. This represents a 7.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the sale, the insider now owns 1,015 shares of the company’s stock, valued at $976,633. This trade represents a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,741 shares of company stock valued at $21,988,532. 0.27% of the stock is owned by company insiders.

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.