Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 14,624 Shares of Equinix, Inc. (NASDAQ:EQIX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 39.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,884 shares of the financial services provider’s stock after purchasing an additional 14,624 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Equinix were worth $48,921,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EQIX. Kestra Investment Management LLC bought a new position in Equinix during the 4th quarter worth $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Equinix during the 4th quarter worth $39,000. Sierra Ocean LLC bought a new position in shares of Equinix in the fourth quarter worth $42,000. Dunhill Financial LLC raised its stake in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. bought a new stake in Equinix during the fourth quarter worth about $47,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Up 1.7 %

Shares of EQIX opened at $855.33 on Thursday. The stock’s 50-day moving average price is $906.85 and its two-hundred day moving average price is $908.67. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a market capitalization of $83.25 billion, a PE ratio of 100.04, a PEG ratio of 1.78 and a beta of 0.74. 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 (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Scotiabank boosted their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Oppenheimer raised their target price on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Truist Financial lowered their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, Royal Bank of Canada raised their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix currently has an average rating of “Buy” and an average target price of $989.35.

Insider Activity at Equinix

In related news, insider Kurt Pletcher sold 341 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the transaction, the insider now owns 1,430 shares in the company, valued at $1,292,319.60. The trade was a 19.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock worth $17,466,950 over the last quarter. Company insiders own 0.27% of the company’s stock.

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.