Lincluden Management Ltd. Reduces Holdings in Equinix, Inc. (NASDAQ:EQIX)

Lincluden Management Ltd. reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,343 shares of the financial services provider’s stock after selling 237 shares during the period. Lincluden Management Ltd.’s holdings in Equinix were worth $4,095,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kestra Investment Management LLC purchased a new position in shares of Equinix in the fourth quarter worth $31,000. GHP Investment Advisors Inc. grew its holdings in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the period. Sierra Ocean LLC bought a new position in shares of Equinix during the fourth quarter valued at about $42,000. Finally, Dunhill Financial LLC raised its stake in shares of 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. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

EQIX stock opened at $909.01 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $88.48 billion, a price-to-earnings ratio of 106.32, a PEG ratio of 1.78 and a beta of 0.72. The firm has a 50 day moving average price of $930.29 and a 200-day moving average price of $903.41. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) 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%. Equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.06%. This is an increase 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 is 219.42%.

Insider Buying and Selling at Equinix

In related news, insider Kurt Pletcher sold 222 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total value of $213,608.40. Following the transaction, the insider now directly owns 1,015 shares of the company’s stock, valued at approximately $976,633. This represents a 17.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the sale, the chairman now directly owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. The trade was a 27.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,741 shares of company stock worth $21,988,532. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. TD Cowen raised their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets cut their price objective on 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. Barclays upped their target price on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Stifel Nicolaus raised their price target on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Truist Financial boosted their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Equinix has an average rating of “Buy” and a consensus target price of $994.82.

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.