Great Lakes Retirement Inc. Buys 12 Shares of Equinix, Inc. (NASDAQ:EQIX)

Great Lakes Retirement Inc. boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 975 shares of the financial services provider’s stock after purchasing an additional 12 shares during the period. Great Lakes Retirement Inc.’s holdings in Equinix were worth $920,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in Equinix by 9.2% in the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares during the period. Brookfield Corp ON grew its position in Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after purchasing an additional 32,481 shares during the period. E. Ohman J or Asset Management AB grew its position in Equinix by 3.0% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after purchasing an additional 1,103 shares during the period. Thematics Asset Management grew its position in Equinix by 17.7% in the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after purchasing an additional 6,000 shares during the period. Finally, Nordea Investment Management AB grew its position in Equinix by 46.1% in the 4th quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock worth $278,712,000 after purchasing an additional 92,975 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the sale, the chief executive officer now directly owns 3,069 shares in the company, valued at $2,951,211.78. The trade was a 49.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Keith D. Taylor sold 3,184 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was 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 owns 22,076 shares in the company, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,801 shares of company stock worth $15,530,564. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $935.20 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $90.24 billion, a P/E ratio of 84.33, a P/E/G ratio of 2.23 and a beta of 0.72. The firm’s fifty day moving average is $937.53 and its two-hundred day moving average is $894.48. 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 results 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 net margin of 12.29% and a return on equity of 8.34%. As a group, analysts anticipate that Equinix, Inc. will post 31.09 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.01%. Equinix’s payout ratio is currently 153.65%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EQIX shares. Royal Bank of Canada lifted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Scotiabank lifted their price target on shares of Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a research note on Thursday, January 23rd. TD Cowen lifted their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Evercore ISI lifted their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix presently has an average rating of “Buy” and an average price target of $996.06.

Equinix Company 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.