Vestcor Inc Has $18.60 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

Vestcor Inc increased its stake in Equinix, Inc. (NASDAQ:EQIX) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,724 shares of the financial services provider’s stock after purchasing an additional 1,795 shares during the period. Vestcor Inc’s holdings in Equinix were worth $18,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after purchasing an additional 81,941 shares during the period. Geode Capital Management LLC boosted its stake in shares of Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after buying an additional 33,277 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Equinix by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after buying an additional 44,471 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after buying an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Equinix by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider’s stock worth $1,107,860,000 after buying an additional 40,791 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Up 2.2 %

Equinix stock opened at $854.99 on Thursday. The stock has a market cap of $83.22 billion, a P/E ratio of 100.00, a P/E/G ratio of 1.78 and a beta of 0.74. 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 twelve month low of $684.14 and a twelve month high of $994.03. The company’s 50-day moving average price is $917.05 and its two-hundred day moving average price is $907.82.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.19%. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of recent research reports. BMO Capital Markets reduced their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. Barclays increased their price objective on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Oppenheimer raised their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Equinix has an average rating of “Buy” and a consensus price target of $989.35.

Insider Transactions at Equinix

In related news, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now owns 6,579 shares in the company, valued at $5,945,508.09. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by company insiders.

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.