Lincluden Management Ltd. Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Lincluden Management Ltd. lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.2% during the 4th quarter, HoldingsChannel reports. The firm owned 4,343 shares of the financial services provider’s stock after selling 237 shares during the period. Lincluden Management Ltd.’s holdings in Equinix were worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. BankPlus Trust Department purchased a new position in Equinix in the fourth quarter worth about $580,000. Rothschild Investment LLC lifted its stake in shares of Equinix by 1.9% in the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 11 shares during the period. Holistic Financial Partners boosted its holdings in shares of Equinix by 24.4% in the fourth quarter. Holistic Financial Partners now owns 291 shares of the financial services provider’s stock worth $274,000 after buying an additional 57 shares during the last quarter. IFP Advisors Inc grew its position in Equinix by 434.1% during the fourth quarter. IFP Advisors Inc now owns 486 shares of the financial services provider’s stock valued at $459,000 after buying an additional 395 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Equinix during the fourth quarter valued at approximately $4,540,000. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EQIX. Stifel Nicolaus lifted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Scotiabank decreased their price objective on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Finally, TD Cowen boosted their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $994.82.

Equinix Price Performance

EQIX stock opened at $909.01 on Tuesday. The company has a market capitalization of $88.48 billion, a PE ratio of 106.32, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. The company’s fifty day moving average price is $930.29 and its 200-day moving average price is $903.41. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.06%. The ex-dividend date is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the transaction, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This trade represents a 27.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,741 shares of company stock valued at $21,988,532 in the last quarter. 0.27% of the stock is currently owned by insiders.

Equinix Company 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.