Boston Financial Mangement LLC Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Boston Financial Mangement LLC grew its stake in Equinix, Inc. (NASDAQ:EQIX) by 4.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,526 shares of the financial services provider’s stock after buying an additional 140 shares during the quarter. Boston Financial Mangement LLC’s holdings in Equinix were worth $3,325,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its position in Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after acquiring an additional 1,716 shares in the last quarter. Brookfield Corp ON boosted its holdings in shares of Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after purchasing an additional 32,481 shares in the last quarter. E. Ohman J or Asset Management AB boosted its holdings in shares of Equinix by 3.0% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after purchasing an additional 1,103 shares in the last quarter. Empowered Funds LLC increased its position in shares of Equinix by 19.2% during the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after purchasing an additional 404 shares during the last quarter. Finally, Thematics Asset Management raised its holdings in shares of Equinix by 17.7% during the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after buying an additional 6,000 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 0.8 %

Shares of Equinix stock opened at $939.08 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a market cap of $91.40 billion, a P/E ratio of 109.83, a PEG ratio of 2.24 and a beta of 0.72. The company’s fifty day simple moving average is $932.87 and its two-hundred day simple moving average is $899.70.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Research analysts anticipate that Equinix, Inc. will post 33.71 EPS for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is presently 199.30%.

Insider Activity at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now owns 6,579 shares of the company’s stock, valued at $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the sale, the director now owns 17,669 shares in the company, valued at approximately $16,117,838.49. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,826 shares of company stock worth $15,555,490 over the last ninety days. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on EQIX shares. BMO Capital Markets reduced their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. TD Cowen increased their target price on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Stifel Nicolaus upped their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $994.82.

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.