Blue Trust Inc. Grows Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Blue Trust Inc. increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 555.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 459 shares of the financial services provider’s stock after purchasing an additional 389 shares during the quarter. Blue Trust Inc.’s holdings in Equinix were worth $379,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EQIX. International Assets Investment Management LLC purchased a new stake in Equinix in the fourth quarter valued at approximately $408,750,000. Cerity Partners LLC raised its position in Equinix by 63.0% in the fourth quarter. Cerity Partners LLC now owns 3,242 shares of the financial services provider’s stock valued at $2,611,000 after purchasing an additional 1,253 shares during the period. Xponance Inc. raised its position in Equinix by 0.8% in the fourth quarter. Xponance Inc. now owns 16,805 shares of the financial services provider’s stock valued at $13,535,000 after purchasing an additional 137 shares during the period. Fidelis Capital Partners LLC raised its position in Equinix by 41.1% in the fourth quarter. Fidelis Capital Partners LLC now owns 855 shares of the financial services provider’s stock valued at $689,000 after purchasing an additional 249 shares during the period. Finally, Ninepoint Partners LP raised its position in Equinix by 8.3% in the fourth quarter. Ninepoint Partners LP now owns 2,018 shares of the financial services provider’s stock valued at $1,625,000 after purchasing an additional 154 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 0.2 %

Shares of EQIX stock traded down $1.42 on Friday, reaching $828.66. 371,708 shares of the stock were exchanged, compared to its average volume of 564,801. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The business’s 50 day moving average price is $781.52 and its 200 day moving average price is $796.80. The company has a market capitalization of $78.64 billion, a price-to-earnings ratio of 83.12, a PEG ratio of 2.80 and a beta of 0.68. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 11.32% and a return on equity of 7.73%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the company earned $8.04 EPS. The business’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that Equinix, Inc. will post 31.23 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 2.06%. Equinix’s dividend payout ratio is presently 170.91%.

Analysts Set New Price Targets

A number of analysts have issued reports on EQIX shares. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Royal Bank of Canada cut their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. The Goldman Sachs Group assumed coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective on the stock. Mizuho assumed coverage on Equinix in a research report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price objective on the stock. Finally, Barclays upped their price objective on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $877.79.

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.