Lincluden Management Ltd. Cuts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Lincluden Management Ltd. lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 16.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,580 shares of the financial services provider’s stock after selling 933 shares during the period. Lincluden Management Ltd.’s holdings in Equinix were worth $4,065,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after buying an additional 238,815 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Equinix by 3.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after purchasing an additional 47,795 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Equinix by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after purchasing an additional 19,844 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its position in Equinix by 13.5% in the first quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock worth $778,332,000 after acquiring an additional 112,194 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 863 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the transaction, the insider now directly owns 8,231 shares in the company, valued at $7,531,365. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Michael Earl Campbell sold 600 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $816.73, for a total transaction of $490,038.00. Following the completion of the sale, the insider now owns 14,800 shares of the company’s stock, valued at approximately $12,087,604. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $915.00, for a total transaction of $789,645.00. Following the sale, the insider now directly owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,906 shares of company stock worth $9,071,764 over the last three months. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on EQIX. Cfra reiterated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Wells Fargo & Company lifted their price target on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price target on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and lifted their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Finally, The Goldman Sachs Group raised their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average price target of $944.63.

Equinix Price Performance

NASDAQ EQIX opened at $908.08 on Friday. The firm’s fifty day simple moving average is $868.35 and its two-hundred day simple moving average is $804.80. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02. The firm has a market capitalization of $86.21 billion, a P/E ratio of 81.88, a P/E/G ratio of 2.19 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a return on equity of 8.55% and a net margin of 12.29%. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.04 earnings per share. Analysts forecast that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.88%. Equinix’s dividend payout ratio is presently 153.65%.

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.