Royal London Asset Management Ltd. Boosts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Royal London Asset Management Ltd. lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,310 shares of the financial services provider’s stock after purchasing an additional 1,949 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Equinix were worth $36,122,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQIX. Kestra Investment Management LLC purchased a new position in shares of Equinix in the fourth quarter valued at $31,000. J.Safra Asset Management Corp purchased a new position in Equinix during the fourth quarter worth $39,000. Sierra Ocean LLC purchased a new position in Equinix during the fourth quarter worth $42,000. Dunhill Financial LLC boosted its stake in Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after buying an additional 25 shares during the period. Finally, Thompson Investment Management Inc. purchased a new position in Equinix during the fourth quarter worth $47,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the transaction, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurt Pletcher sold 341 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value of $308,168.52. Following the sale, the insider now owns 1,430 shares in the company, valued at $1,292,319.60. The trade was a 19.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 over the last quarter. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Oppenheimer lifted their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. Barclays lifted their price objective on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their target price on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Equinix currently has an average rating of “Buy” and a consensus price target of $990.06.

Equinix Stock Performance

EQIX stock opened at $851.72 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The business has a 50-day moving average price of $904.87 and a 200 day moving average price of $908.27. The company has a market capitalization of $82.90 billion, a P/E ratio of 99.62, a PEG ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) 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%. As a group, equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is 219.42%.

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.