Mitsubishi UFJ Trust & Banking Corp Has $80.84 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,737 shares of the financial services provider’s stock after selling 4,403 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of Equinix worth $80,841,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new position in Equinix during the fourth quarter worth approximately $31,000. J.Safra Asset Management Corp bought a new stake in Equinix in the 4th quarter valued at $39,000. Sierra Ocean LLC acquired a new stake in Equinix during the 4th quarter valued at $42,000. Dunhill Financial LLC boosted 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 worth $43,000 after purchasing an additional 25 shares during the period. Finally, Thompson Investment Management Inc. acquired a new position in shares of Equinix in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $841.22 on Wednesday. The firm’s 50 day simple moving average is $901.48 and its 200 day simple moving average is $909.76. The firm has a market capitalization of $81.88 billion, a price-to-earnings ratio of 98.39, a P/E/G 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, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating 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%. As a group, research analysts expect 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 was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.23%. Equinix’s payout ratio is presently 219.42%.

Insider Transactions at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 3,562 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total value of $3,309,240.48. Following the completion of the transaction, the chairman now directly owns 15,513 shares in the company, valued at approximately $14,412,197.52. This trade represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the business’s 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 sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BMO Capital Markets reduced their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada boosted their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Truist Financial reduced their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, Barclays increased their price objective on Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $990.06.

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.