Fisher Funds Management LTD Invests $31.38 Million in Equinix, Inc. (NASDAQ:EQIX)

Fisher Funds Management LTD acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 33,366 shares of the financial services provider’s stock, valued at approximately $31,380,000.

Other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp grew its holdings in Equinix by 9.2% during the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after purchasing an additional 1,716 shares during the last quarter. Brookfield Corp ON boosted its holdings in shares of Equinix by 67.3% during the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after buying an additional 32,481 shares during the period. Empowered Funds LLC boosted its holdings in shares of Equinix by 19.2% during the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock worth $2,361,000 after buying an additional 404 shares during the period. Thematics Asset Management grew its stake in Equinix by 17.7% in the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after buying an additional 6,000 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Equinix by 46.1% in the 4th quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock worth $278,712,000 after acquiring an additional 92,975 shares during the period. 94.94% of the stock is owned by institutional investors.

Equinix Stock Performance

NASDAQ:EQIX opened at $919.68 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. The firm has a 50-day moving average price of $931.27 and a 200 day moving average price of $901.85. The firm has a market capitalization of $89.51 billion, a PE ratio of 107.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

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

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.04%. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Insider Activity

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now directly owns 3,069 shares in the company, valued at $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the sale, the insider now directly owns 1,015 shares in the company, valued at $976,633. This represents a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,741 shares of company stock worth $21,988,532. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada upped their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Barclays lifted their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Truist Financial upped their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Finally, Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Three investment 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 company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $994.82.

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.