Haven Capital Group Inc. Invests $609,000 in Equinix, Inc. (NASDAQ:EQIX)

Haven Capital Group Inc. acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 646 shares of the financial services provider’s stock, valued at approximately $609,000. Equinix accounts for about 0.6% of Haven Capital Group Inc.’s investment portfolio, making the stock its 26th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Equinix by 302.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after acquiring an additional 813,666 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Equinix during the fourth quarter valued at $328,899,000. Adelante Capital Management LLC raised its stake in shares of Equinix by 202.3% during the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after purchasing an additional 344,114 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Equinix in the fourth quarter worth about $246,000. Finally, JPMorgan Chase & Co. grew its position in Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after buying an additional 203,656 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the transaction, the chief executive officer now owns 4,329 shares in the company, valued at $3,937,268.79. This represents a 24.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 3,184 shares of Equinix stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the completion of the sale, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. The trade was a 12.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by corporate insiders.

Equinix Trading Up 2.3 %

Shares of NASDAQ:EQIX opened at $857.25 on Tuesday. The firm has a fifty day moving average of $910.74 and a two-hundred day moving average of $909.00. The company has a quick ratio of 1.63, a current 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 firm has a market capitalization of $83.44 billion, a P/E ratio of 100.26, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last released 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%. On average, equities analysts expect 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 issued a $4.69 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.19%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EQIX. Stifel Nicolaus upped their target price on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. 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. Truist Financial dropped their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Citizens Jmp raised Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix currently has an average rating of “Buy” and a consensus price target of $989.35.

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.