Intact Investment Management Inc. Boosts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Intact Investment Management Inc. grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,920 shares of the financial services provider’s stock after acquiring an additional 100 shares during the quarter. Intact Investment Management Inc.’s holdings in Equinix were worth $4,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of EQIX. State Street Corp raised its stake in Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after acquiring an additional 81,941 shares during the period. Geode Capital Management LLC raised its stake in Equinix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after acquiring an additional 33,277 shares during the period. Principal Financial Group Inc. raised its stake in Equinix by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock valued at $1,827,847,000 after acquiring an additional 44,471 shares during the period. JPMorgan Chase & Co. raised its stake in Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after acquiring an additional 203,656 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Equinix by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider’s stock valued at $1,107,860,000 after acquiring an additional 40,791 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Up 0.4 %

Shares of EQIX opened at $837.68 on Friday. The firm has a market cap of $81.53 billion, a P/E ratio of 97.97, a P/E/G ratio of 1.78 and a beta of 0.74. The stock has a 50 day simple moving average of $912.40 and a two-hundred day simple moving average of $907.43. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 1 year low of $684.14 and a 1 year 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 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%. On average, analysts forecast 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. Stockholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is 219.42%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Scotiabank boosted their price objective on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Wells Fargo & Company decreased their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets decreased their price target 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. Royal Bank of Canada upped their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Stifel Nicolaus upped their price target on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $989.35.

Insider Activity

In other news, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles J. Meyers sold 5,788 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the transaction, the chairman now owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. This represents a 27.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by company 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.