Toronto Dominion Bank Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Toronto Dominion Bank raised its position in Equinix, Inc. (NASDAQ:EQIX) by 8.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 51,495 shares of the financial services provider’s stock after purchasing an additional 3,975 shares during the quarter. Toronto Dominion Bank’s holdings in Equinix were worth $48,554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after purchasing an additional 203,656 shares during the last quarter. Brookstone Capital Management purchased a new position in shares of Equinix during the fourth quarter valued at approximately $223,000. Park Avenue Securities LLC raised its holdings in shares of Equinix by 10.3% during the fourth quarter. Park Avenue Securities LLC now owns 1,898 shares of the financial services provider’s stock valued at $1,790,000 after acquiring an additional 178 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Equinix by 31.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 63 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 15 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Equinix by 20.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,607 shares of the financial services provider’s stock valued at $1,515,000 after acquiring an additional 271 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Trading Up 1.0%

Shares of NASDAQ:EQIX opened at $875.92 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. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03. The company has a market cap of $85.68 billion, a P/E ratio of 102.45, a PEG ratio of 1.78 and a beta of 0.97. The stock’s fifty day moving average price is $825.46 and its 200-day moving average price is $892.74.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the business earned $8.86 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EQIX. Wells Fargo & Company cut their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Oppenheimer increased their target price on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Cfra Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. BNP Paribas upgraded Equinix to a “strong-buy” rating in a report on Thursday, May 1st. Finally, Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $1,004.89.

Insiders Place Their Bets

In related news, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider now owns 1,842 shares of the company’s stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal 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 on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. This trade represents a 7.55% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,167 shares of company stock valued at $6,658,536. Company insiders own 0.27% of the company’s stock.

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.