Intact Investment Management Inc. Buys 1,500 Shares of Equinix, Inc. (NASDAQ:EQIX)

Intact Investment Management Inc. grew its stake in Equinix, Inc. (NASDAQ:EQIX) by 45.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,820 shares of the financial services provider’s stock after acquiring an additional 1,500 shares during the quarter. Intact Investment Management Inc.’s holdings in Equinix were worth $4,278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Equinix by 1.9% during 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 purchasing an additional 238,815 shares in the last quarter. Principal Financial Group Inc. increased its stake in Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Equinix by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after purchasing an additional 47,795 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after purchasing an additional 19,844 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its stake in Equinix by 13.5% during the 1st quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock worth $778,332,000 after purchasing an additional 112,194 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. HSBC raised Equinix from a “hold” rating to a “buy” rating and upped their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Wells Fargo & Company upped 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. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Truist Financial upped their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. upped their price target on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $944.63.

Equinix Stock Up 0.9 %

EQIX opened at $895.92 on Tuesday. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The stock’s fifty day simple moving average is $871.10 and its 200 day simple moving average is $807.85. The company has a current ratio of 1.16, a quick ratio of 1.22 and a debt-to-equity ratio of 1.12. The stock has a market cap of $86.45 billion, a PE ratio of 80.79, a price-to-earnings-growth ratio of 2.18 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.34% and a net margin of 12.29%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the business earned $8.04 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Insider Buying and Selling

In related news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 1,726 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of the sale, the insider now directly owns 6,505 shares in the company, valued at $5,886,959.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,632 shares of company stock worth $10,633,777. Company insiders own 0.27% of the company’s stock.

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.