Equinix Inc (NASDAQ:EQIX) Stake Boosted by Man Group plc
Man Group plc grew its stake in shares of Equinix Inc (NASDAQ:EQIX) by 28.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,808 shares of the financial services provider’s stock after acquiring an additional 18,640 shares during the period. Man Group plc owned 0.10% of Equinix worth $49,502,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Resolution Capital Ltd bought a new stake in Equinix in the fourth quarter worth $120,032,000. Duff & Phelps Investment Management Co. lifted its position in Equinix by 225.2% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 219,450 shares of the financial services provider’s stock worth $128,093,000 after acquiring an additional 151,960 shares during the last quarter. State Street Corp lifted its position in Equinix by 4.3% during the 3rd quarter. State Street Corp now owns 3,473,776 shares of the financial services provider’s stock worth $2,003,674,000 after acquiring an additional 144,231 shares during the last quarter. M&G Investment Management Ltd. acquired a new position in Equinix during the 4th quarter worth $67,072,000. Finally, Pictet Asset Management Ltd. lifted its position in Equinix by 16.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 759,710 shares of the financial services provider’s stock worth $438,201,000 after acquiring an additional 107,692 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.
A number of research firms have weighed in on EQIX. BidaskClub raised shares of Equinix from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 25th. Wells Fargo & Co upped their price objective on shares of Equinix from $620.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. BMO Capital Markets reaffirmed a “positive” rating and set a $665.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Cfra upped their price objective on shares of Equinix from $590.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Stifel Nicolaus upped their price objective on shares of Equinix from $620.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $623.26.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $1.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.56 by ($0.10). Equinix had a return on equity of 5.84% and a net margin of 9.12%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts anticipate that Equinix Inc will post 22.48 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 26th were issued a dividend of $2.66 per share. This is an increase from Equinix’s previous quarterly dividend of $2.46. The ex-dividend date was Tuesday, February 25th. This represents a $10.64 annualized dividend and a dividend yield of 1.95%. Equinix’s payout ratio is presently 46.65%.
In other Equinix news, insider Sara Baack sold 250 shares of Equinix stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $583.91, for a total value of $145,977.50. Following the completion of the sale, the insider now owns 7,672 shares in the company, valued at approximately $4,479,757.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith D. Taylor sold 3,383 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $592.28, for a total transaction of $2,003,683.24. Following the completion of the transaction, the chief financial officer now owns 28,430 shares of the company’s stock, valued at $16,838,520.40. The disclosure for this sale can be found here. Insiders have sold a total of 33,842 shares of company stock valued at $20,143,610 in the last ninety days. 0.49% of the stock is currently owned by insiders.
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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