Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Holdings in Equinix, Inc. (EQIX)
Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,183 shares of the financial services provider’s stock after buying an additional 473 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Equinix were worth $4,991,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Forsta AP Fonden lifted its holdings in Equinix by 33.8% during the 3rd quarter. Forsta AP Fonden now owns 30,100 shares of the financial services provider’s stock worth $13,434,000 after buying an additional 7,600 shares in the last quarter. Verition Fund Management LLC raised its holdings in shares of Equinix by 17.0% in the 2nd quarter. Verition Fund Management LLC now owns 819 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 119 shares in the last quarter. Nicholas Company Inc. acquired a new stake in shares of Equinix in the 2nd quarter valued at $3,201,000. Honeywell International Inc. raised its holdings in shares of Equinix by 30.0% in the 3rd quarter. Honeywell International Inc. now owns 22,253 shares of the financial services provider’s stock valued at $9,932,000 after purchasing an additional 5,139 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Equinix by 7.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 610,357 shares of the financial services provider’s stock valued at $261,747,000 after purchasing an additional 43,933 shares in the last quarter. Institutional investors own 95.09% of the company’s stock.
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A number of brokerages have recently weighed in on EQIX. Berenberg Bank restated a “buy” rating and issued a $550.00 price objective on shares of Equinix in a report on Friday, November 3rd. Zacks Investment Research raised shares of Equinix from a “hold” rating to a “buy” rating and set a $547.00 target price on the stock in a research report on Monday, November 6th. Cowen and Company reaffirmed a “buy” rating and issued a $482.00 target price on shares of Equinix in a research report on Friday, November 10th. Citigroup Inc. raised their price objective on shares of Equinix from $518.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Finally, J P Morgan Chase & Co raised shares of Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 price objective on the stock in a research report on Thursday, November 2nd. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Equinix has an average rating of “Buy” and an average target price of $495.20.
Equinix, Inc. (NASDAQ:EQIX) traded down $4.58 during trading on Friday, reaching $470.51. 49,857 shares of the company were exchanged, compared to its average volume of 500,355. Equinix, Inc. has a 52-week low of $327.37 and a 52-week high of $495.35. The stock has a market capitalization of $37,115.63, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 1.91 and a beta of 0.46. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.51.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $2.24. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm earned $3.95 earnings per share. Equinix’s revenue for the quarter was up 24.6% on a year-over-year basis. analysts anticipate that Equinix, Inc. will post 16.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, November 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.70%. Equinix’s payout ratio is currently 264.03%.
In related news, insider Michael Earl Campbell sold 200 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $479.37, for a total value of $95,874.00. Following the sale, the insider now directly owns 1,125 shares of the company’s stock, valued at $539,291.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 593 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $484.99, for a total transaction of $287,599.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,760 shares of company stock worth $3,555,070. Corporate insiders own 0.58% of the company’s stock.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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