Heritage Investors Management Corp boosted its holdings in shares of Equinix Inc (NASDAQ:EQIX) by 22.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,323 shares of the financial services provider’s stock after purchasing an additional 3,780 shares during the quarter. Heritage Investors Management Corp’s holdings in Equinix were worth $8,798,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Manning & Napier Group LLC raised its stake in shares of Equinix by 498.9% in the second quarter. Manning & Napier Group LLC now owns 292,305 shares of the financial services provider’s stock valued at $125,657,000 after acquiring an additional 243,495 shares during the period. Principal Financial Group Inc. increased its stake in Equinix by 12.2% in the 1st quarter. Principal Financial Group Inc. now owns 2,084,542 shares of the financial services provider’s stock worth $871,629,000 after buying an additional 226,090 shares during the period. American Century Companies Inc. increased its stake in Equinix by 18.4% in the 2nd quarter. American Century Companies Inc. now owns 1,170,207 shares of the financial services provider’s stock worth $503,060,000 after buying an additional 181,449 shares during the period. USS Investment Management Ltd increased its stake in Equinix by 20.0% in the 2nd quarter. USS Investment Management Ltd now owns 685,283 shares of the financial services provider’s stock worth $294,603,000 after buying an additional 114,172 shares during the period. Finally, Heitman Real Estate Securities LLC increased its stake in Equinix by 410.2% in the 2nd quarter. Heitman Real Estate Securities LLC now owns 140,169 shares of the financial services provider’s stock worth $61,722,000 after buying an additional 112,693 shares during the period. 99.77% of the stock is currently owned by institutional investors.
EQIX has been the topic of several recent analyst reports. BidaskClub downgraded shares of Equinix from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $454.00 price target (down previously from $460.00) on shares of Equinix in a research note on Tuesday, October 23rd. ValuEngine raised shares of Equinix from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Mitsubishi UFJ Financial Group raised their price target on shares of Equinix to $483.00 and gave the stock an “overweight” rating in a research note on Friday, August 17th. Finally, BMO Capital Markets reduced their price target on shares of Equinix from $526.00 to $521.00 and set a “buy” rating on the stock in a research note on Thursday, August 9th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $501.28.
Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.47 by ($2.92). Equinix had a net margin of 6.46% and a return on equity of 7.70%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business posted $3.63 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts forecast that Equinix Inc will post 18.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 14th will be issued a $2.28 dividend. This represents a $9.12 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Tuesday, November 13th. Equinix’s dividend payout ratio is currently 49.22%.
In related news, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $431.65, for a total value of $863,300.00. Following the completion of the transaction, the chief financial officer now directly owns 21,141 shares of the company’s stock, valued at approximately $9,125,512.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Earl Campbell sold 250 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $433.24, for a total transaction of $108,310.00. Following the completion of the transaction, the insider now directly owns 1,427 shares of the company’s stock, valued at $618,233.48. The disclosure for this sale can be found here. Insiders sold a total of 3,566 shares of company stock worth $1,528,778 over the last 90 days. Company insiders own 0.51% of the company’s stock.
Equinix Company Profile
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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