PGGM Investments Has $392.40 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

PGGM Investments trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 416,165 shares of the financial services provider’s stock after selling 19,360 shares during the period. Equinix makes up approximately 5.2% of PGGM Investments’ portfolio, making the stock its biggest holding. PGGM Investments owned approximately 0.43% of Equinix worth $392,398,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EQIX shares. Royal Bank of Canada upped their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. BMO Capital Markets reduced their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Barclays lifted their price objective on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Scotiabank increased their target price on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Finally, Oppenheimer lifted their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix has an average rating of “Buy” and a consensus target price of $989.35.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 1,370 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the transaction, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. The trade was a 24.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock valued at $17,466,950 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Equinix Trading Up 2.2 %

NASDAQ EQIX opened at $854.99 on Thursday. The stock’s 50 day moving average is $917.05 and its 200 day moving average is $907.82. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $83.22 billion, a PE ratio of 100.00, a P/E/G ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.19%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

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.