Fiduciary Group LLC Has $2.66 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Fiduciary Group LLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,510 shares of the financial services provider’s stock after selling 41 shares during the quarter. Fiduciary Group LLC’s holdings in Equinix were worth $2,656,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EQIX. Norges Bank acquired a new stake in shares of Equinix in the fourth quarter valued at about $1,574,132,000. Swedbank AB bought a new position in Equinix during the 1st quarter worth approximately $294,526,000. Principal Financial Group Inc. lifted its position in shares of Equinix by 14.5% in 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 during the period. Vanguard Group Inc. boosted its stake in shares of Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares during the last quarter. Finally, M&G Plc bought a new position in Equinix during the first quarter worth $187,089,000. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock worth $8,282,119 in the last quarter. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on EQIX. Royal Bank of Canada decreased their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Mizuho boosted their price target on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group assumed coverage on shares of Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. TD Cowen boosted their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $883.71.

Equinix Stock Up 0.3 %

EQIX stock opened at $871.54 on Friday. The stock’s 50 day moving average is $811.47 and its 200-day moving average is $794.10. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The firm has a market capitalization of $82.74 billion, a PE ratio of 87.42, a P/E/G ratio of 2.11 and a beta of 0.71. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

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

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

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.