Bank of Montreal Can Buys 14,654 Shares of Equinix, Inc. (NASDAQ:EQIX)

Bank of Montreal Can lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,228 shares of the financial services provider’s stock after purchasing an additional 14,654 shares during the period. Bank of Montreal Can owned 0.14% of Equinix worth $124,677,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Kestra Investment Management LLC purchased a new stake in Equinix in the fourth quarter worth $31,000. J.Safra Asset Management Corp purchased a new stake in Equinix in the 4th quarter worth about $39,000. Sierra Ocean LLC bought a new stake in Equinix in the 4th quarter valued at about $42,000. Dunhill Financial LLC lifted its holdings in Equinix by 108.7% during the third 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 last quarter. Finally, Thompson Investment Management Inc. purchased a new stake in Equinix during the fourth quarter valued at about $47,000. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the sale, the director now directly owns 17,669 shares of the company’s stock, valued at approximately $16,117,838.49. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,054 shares of company stock valued at $17,466,950. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Down 2.4 %

Shares of NASDAQ:EQIX opened at $747.74 on Tuesday. The firm has a market capitalization of $72.78 billion, a PE ratio of 87.45, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The firm has a fifty day moving average of $880.41 and a 200 day moving average of $905.96.

Equinix (NASDAQ:EQIX) last issued its quarterly 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%. As a group, research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.51%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix’s payout ratio is presently 219.42%.

Analyst Ratings Changes

EQIX has been the topic of several research reports. Mizuho lowered their price target on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research report on Friday, March 28th. Oppenheimer lifted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Wolfe Research upgraded Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 target price on the stock in a research report on Thursday, March 27th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada increased their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Equinix has a consensus rating of “Buy” and a consensus target price of $1,007.59.

About Equinix

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.