Equinix, Inc. (NASDAQ:EQIX) is PGGM Investments’ Largest Position

PGGM Investments reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 416,165 shares of the financial services provider’s stock after selling 19,360 shares during the quarter. Equinix accounts for 5.2% of PGGM Investments’ portfolio, making the stock its biggest holding. PGGM Investments’ holdings in Equinix were worth $392,398,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EQIX. State Street Corp grew its position 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 worth $5,171,405,000 after purchasing an additional 81,941 shares during the period. Geode Capital Management LLC grew its holdings in shares of Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after acquiring an additional 33,277 shares during the period. Principal Financial Group Inc. increased its position in Equinix by 2.3% during the fourth 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 last quarter. JPMorgan Chase & Co. lifted its holdings in Equinix by 17.9% in the third 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. lifted its holdings in Equinix by 3.6% in the fourth 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.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. The trade was a 7.55 % 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, CEO Adaire Fox-Martin sold 1,370 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the sale, the chief executive officer now owns 4,329 shares of the company’s stock, valued at approximately $3,937,268.79. This represents a 24.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock valued at $17,466,950 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Up 2.2 %

Shares of Equinix stock opened at $854.99 on Thursday. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average price of $917.05 and a 200-day moving average price of $907.82. The firm has a market cap of $83.22 billion, a price-to-earnings ratio of 100.00, a PEG ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating 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%. Equities 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 will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.19%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is 219.42%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EQIX shares. Scotiabank upped their price target on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company decreased their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix has a consensus rating of “Buy” and an average price target of $989.35.

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.