PGGM Investments Increases Position in Equinix Inc. (EQIX)
PGGM Investments increased its position in Equinix Inc. (NASDAQ:EQIX) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 46,130 shares of the company’s stock after buying an additional 608 shares during the period. PGGM Investments’ holdings in Equinix were worth $17,886,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. State Street Corp raised its stake in shares of Equinix by 10.2% in the first quarter. State Street Corp now owns 2,746,386 shares of the company’s stock worth $908,250,000 after buying an additional 254,160 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Equinix by 12.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,024,917 shares of the company’s stock worth $669,660,000 after buying an additional 230,715 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Equinix by 19.9% in the first quarter. JPMorgan Chase & Co. now owns 980,242 shares of the company’s stock worth $324,175,000 after buying an additional 162,915 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Equinix by 8.9% in the first quarter. BlackRock Fund Advisors now owns 1,987,178 shares of the company’s stock worth $657,180,000 after buying an additional 162,898 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Equinix by 18.7% in the first quarter. Franklin Resources Inc. now owns 896,957 shares of the company’s stock worth $296,636,000 after buying an additional 141,278 shares in the last quarter. 99.86% of the stock is owned by hedge funds and other institutional investors.
Equinix Inc. (NASDAQ:EQIX) traded down 0.67% on Thursday, reaching $359.95. The company had a trading volume of 405,900 shares. Equinix Inc. has a 12-month low of $255.45 and a 12-month high of $391.07. The stock’s 50 day moving average price is $365.15 and its 200-day moving average price is $356.20. The stock has a market capitalization of $25.58 billion, a PE ratio of 355.33 and a beta of 0.80.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 3rd. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $3.64 by $3.08. Equinix had a return on equity of 6.02% and a net margin of 2.07%. The company earned $900.50 million during the quarter, compared to the consensus estimate of $893.99 million. During the same period last year, the firm posted $1.03 EPS. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. Equities analysts expect that Equinix Inc. will post $14.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Wednesday, August 24th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Monday, August 22nd. Equinix’s dividend payout ratio (DPR) is presently 654.21%.
A number of analysts have commented on EQIX shares. Pacific Crest reissued a “buy” rating on shares of Equinix in a report on Wednesday, August 24th. Royal Bank Of Canada boosted their price objective on Equinix from $382.00 to $429.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Jefferies Group lowered Equinix from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $380.00 to $400.00 in a report on Friday, July 15th. They noted that the move was a valuation call. Zacks Investment Research raised Equinix from a “hold” rating to a “buy” rating and set a $400.00 target price for the company in a report on Wednesday, September 14th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Equinix in a report on Thursday, June 16th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $398.79.
In other Equinix news, CFO Keith D. Taylor sold 2,500 shares of Equinix stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $362.41, for a total value of $906,025.00. Following the completion of the sale, the chief financial officer now owns 41,878 shares of the company’s stock, valued at approximately $15,177,005.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Karl Strohmeyer sold 2,143 shares of Equinix stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $369.76, for a total transaction of $792,395.68. Following the completion of the sale, the insider now directly owns 2,550 shares of the company’s stock, valued at approximately $942,888. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by company insiders.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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