Texas Permanent School Fund Corp Lowers Holdings in Equinix, Inc. (NASDAQ:EQIX)

Texas Permanent School Fund Corp decreased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 19.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,727 shares of the financial services provider’s stock after selling 3,679 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Equinix were worth $11,899,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. CNB Bank raised its stake in Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Equinix in the 1st quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Equinix in the 2nd quarter worth $30,000. Rise Advisors LLC bought a new stake in shares of Equinix in the 1st quarter worth $39,000. Finally, UMB Bank n.a. increased its holdings in shares of Equinix by 30.0% in the 1st quarter. UMB Bank n.a. now owns 65 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 1.7 %

EQIX opened at $831.80 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The firm’s fifty day moving average is $802.19 and its 200 day moving average is $793.22. The stock has a market cap of $78.97 billion, a price-to-earnings ratio of 83.43, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the firm posted $8.04 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EQIX shares. Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. The Goldman Sachs Group began coverage on Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 target price for the company. TD Cowen lifted their price objective on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Barclays increased their target price on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $876.71.

Insider Activity at Equinix

In related news, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,179 shares of company stock worth $7,547,719. 0.27% of the stock is owned by corporate insiders.

About Equinix

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.