Sarasin & Partners LLP Reduces Position in Equinix, Inc. (EQIX)
Sarasin & Partners LLP reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 378,874 shares of the financial services provider’s stock after selling 18,486 shares during the quarter. Equinix comprises 3.4% of Sarasin & Partners LLP’s investment portfolio, making the stock its 6th biggest position. Sarasin & Partners LLP owned about 0.48% of Equinix worth $169,091,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. US Bancorp DE lifted its stake in Equinix by 1.5% in the 2nd quarter. US Bancorp DE now owns 4,955 shares of the financial services provider’s stock worth $2,127,000 after purchasing an additional 75 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Equinix by 77.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,096 shares of the financial services provider’s stock worth $1,758,000 after purchasing an additional 1,790 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Equinix by 4.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 3,086 shares of the financial services provider’s stock worth $1,325,000 after purchasing an additional 119 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Equinix by 9.1% in the 2nd quarter. CIBC Asset Management Inc now owns 7,394 shares of the financial services provider’s stock worth $3,173,000 after purchasing an additional 614 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Equinix by 145.0% in the 2nd quarter. Bessemer Group Inc. now owns 1,247 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 738 shares in the last quarter. Institutional investors own 94.33% of the company’s stock.
Shares of Equinix, Inc. (NASDAQ:EQIX) opened at $468.32 on Thursday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.51. The firm has a market cap of $37,391.80, a price-to-earnings ratio of 26.88, a PEG ratio of 1.92 and a beta of 0.46. Equinix, Inc. has a 52-week low of $327.37 and a 52-week high of $495.35.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $2.24. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the company posted $3.95 EPS. sell-side analysts expect that Equinix, Inc. will post 16.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Tuesday, November 14th. Equinix’s dividend payout ratio (DPR) is currently 264.03%.
In related news, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $476.81, for a total transaction of $953,620.00. Following the transaction, the chief financial officer now owns 27,996 shares of the company’s stock, valued at approximately $13,348,772.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Earl Campbell sold 200 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $463.61, for a total transaction of $92,722.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,510 shares of company stock worth $3,927,880. Corporate insiders own 0.58% of the company’s stock.
Several analysts have issued reports on EQIX shares. Barclays reiterated an “equal weight” rating and issued a $475.00 target price (up from $410.00) on shares of Equinix in a research note on Thursday, August 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $497.00 target price (up from $485.00) on shares of Equinix in a research note on Thursday, August 3rd. Cowen reiterated an “outperform” rating and issued a $482.00 target price (up from $465.00) on shares of Equinix in a research note on Thursday, August 3rd. Royal Bank Of Canada increased their target price on shares of Equinix from $470.00 to $505.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Finally, BidaskClub cut shares of Equinix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 8th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $495.20.
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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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