California Public Employees Retirement System Grows Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

California Public Employees Retirement System lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 350,704 shares of the financial services provider’s stock after purchasing an additional 2,166 shares during the period. California Public Employees Retirement System’s holdings in Equinix were worth $330,675,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of EQIX. Kestra Investment Management LLC purchased a new stake in Equinix in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new stake in Equinix in the fourth quarter worth $39,000. Sierra Ocean LLC bought a new stake in Equinix in the fourth quarter valued at $42,000. Dunhill Financial LLC increased its position in Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares during the period. Finally, Thompson Investment Management Inc. bought a new position in Equinix in the 4th quarter worth $47,000. 94.94% of the stock is owned by institutional investors.

Equinix Stock Performance

Shares of EQIX opened at $803.00 on Friday. The company has a market cap of $78.16 billion, a price-to-earnings ratio of 93.92, a P/E/G ratio of 1.78 and a beta of 0.74. The business’s fifty day simple moving average is $895.96 and its two-hundred day simple moving average is $908.73. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating 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%. 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 was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.34%. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix’s payout ratio is presently 219.42%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EQIX shares. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. Truist Financial decreased their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Royal Bank of Canada raised their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. BMO Capital Markets reduced their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Wolfe Research raised Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price objective for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix has an average rating of “Buy” and an average target price of $1,007.59.

Insider Buying and Selling

In other news, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the transaction, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at $20,085,186.32. This represents a 12.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the sale, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. The trade was a 27.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by insiders.

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.