RMR Advisors LLC bought a new position in Equinix Inc (NASDAQ:EQIX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,000 shares of the financial services provider’s stock, valued at approximately $453,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc increased its position in Equinix by 0.3% in the third quarter. Vanguard Group Inc now owns 10,175,655 shares of the financial services provider’s stock worth $4,404,940,000 after buying an additional 27,284 shares during the last quarter. BlackRock Inc. grew its position in shares of Equinix by 0.5% in the fourth quarter. BlackRock Inc. now owns 5,952,156 shares of the financial services provider’s stock valued at $2,098,492,000 after purchasing an additional 26,953 shares in the last quarter. Cohen & Steers Inc. grew its position in shares of Equinix by 7.4% in the fourth quarter. Cohen & Steers Inc. now owns 3,161,793 shares of the financial services provider’s stock valued at $1,114,722,000 after purchasing an additional 218,971 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Equinix by 10.1% in the third quarter. JPMorgan Chase & Co. now owns 1,225,145 shares of the financial services provider’s stock valued at $530,354,000 after purchasing an additional 112,196 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Equinix by 19.7% in the fourth quarter. Northern Trust Corp now owns 1,116,449 shares of the financial services provider’s stock valued at $393,617,000 after purchasing an additional 183,479 shares in the last quarter. 98.92% of the stock is owned by institutional investors and hedge funds.
Equinix stock traded down $5.16 during midday trading on Wednesday, hitting $447.50. 4,013 shares of the company’s stock were exchanged, compared to its average volume of 411,201. Equinix Inc has a 52-week low of $335.29 and a 52-week high of $467.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.51. The stock has a market cap of $36.40 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.62 and a beta of 0.91.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 13th. The financial services provider reported $1.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.46 by ($3.10). Equinix had a return on equity of 6.88% and a net margin of 7.20%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Equinix’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts anticipate that Equinix Inc will post 20.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 27th were given a dividend of $2.46 per share. This represents a $9.84 annualized dividend and a yield of 2.20%. This is a boost from Equinix’s previous quarterly dividend of $2.28. The ex-dividend date of this dividend was Tuesday, February 26th. Equinix’s payout ratio is presently 47.56%.
In related news, CEO Charles J. Meyers sold 3,383 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $425.92, for a total transaction of $1,440,887.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles J. Meyers sold 282 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $462.31, for a total value of $130,371.42. Following the transaction, the chief executive officer now owns 5,882 shares of the company’s stock, valued at $2,719,307.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,893 shares of company stock valued at $7,665,409. 0.51% of the stock is owned by company insiders.
Several brokerages have recently weighed in on EQIX. BidaskClub upgraded Equinix from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 5th. Zacks Investment Research cut Equinix from a “buy” rating to a “hold” rating in a research report on Tuesday. Nomura lifted their price target on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, March 29th. Wells Fargo & Co lifted their price target on Equinix from $475.00 to $500.00 and gave the company an “outperform” rating in a research report on Wednesday, March 27th. Finally, Citigroup lifted their price target on Equinix from $481.00 to $482.00 and gave the company a “buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $495.29.
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Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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