Equinix, Inc. (NASDAQ:EQIX) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,217 shares of the financial services provider’s stock after purchasing an additional 400 shares during the period. State of Michigan Retirement System’s holdings in Equinix were worth $24,720,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Van ECK Associates Corp boosted its holdings in Equinix by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after acquiring an additional 1,716 shares during the period. Brookfield Corp ON grew its holdings in shares of Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing an additional 32,481 shares in the last quarter. Empowered Funds LLC increased its stake in 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 lifted its holdings in Equinix by 17.7% during the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after buying an additional 6,000 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position 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 valued at $278,712,000 after buying an additional 92,975 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value of $308,168.52. Following the sale, the insider now owns 1,430 shares of the company’s stock, valued at approximately $1,292,319.60. The trade was a 19.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction that occurred 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 transaction, the chairman now directly owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BMO Capital Markets cut their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Barclays upped their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Oppenheimer lifted their price objective on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Scotiabank raised their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $995.24.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $910.04 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a market cap of $88.58 billion, a P/E ratio of 106.44, a P/E/G ratio of 1.78 and a beta of 0.72. The stock has a 50 day moving average of $926.82 and a two-hundred day moving average of $906.82. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current 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 paid a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.06%. Equinix’s dividend payout ratio is currently 219.42%.

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.