State Board of Administration of Florida Retirement System increased its stake in Equinix Inc (NASDAQ:EQIX) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,223 shares of the financial services provider’s stock after purchasing an additional 1,010 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.14% of Equinix worth $55,080,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of EQIX. Comerica Securities Inc. grew its position in shares of Equinix by 51.1% in the fourth quarter. Comerica Securities Inc. now owns 1,958 shares of the financial services provider’s stock valued at $690,000 after purchasing an additional 662 shares during the period. Geode Capital Management LLC lifted its stake in shares of Equinix by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 973,381 shares of the financial services provider’s stock worth $342,531,000 after buying an additional 65,128 shares in the last quarter. Wedbush Securities Inc. purchased a new position in shares of Equinix in the first quarter worth about $256,000. Winslow Evans & Crocker Inc. lifted its stake in shares of Equinix by 1,428.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 764 shares of the financial services provider’s stock worth $348,000 after buying an additional 714 shares in the last quarter. Finally, Conning Inc. lifted its stake in shares of Equinix by 7.7% in the first quarter. Conning Inc. now owns 1,398 shares of the financial services provider’s stock worth $634,000 after buying an additional 100 shares in the last quarter. 95.48% of the stock is currently owned by hedge funds and other institutional investors.
EQIX has been the topic of several research reports. Deutsche Bank raised their price target on shares of Equinix from $480.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Nomura raised their price target on shares of Equinix from $505.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. BidaskClub raised shares of Equinix from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Stifel Nicolaus raised their price target on shares of Equinix from $542.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Raymond James raised their price target on shares of Equinix from $520.00 to $560.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Equinix currently has a consensus rating of “Buy” and a consensus price target of $527.21.
EQIX stock traded up $2.83 during trading on Wednesday, reaching $549.83. 62,987 shares of the stock were exchanged, compared to its average volume of 468,275. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.34. The business has a 50 day moving average price of $522.22 and a 200-day moving average price of $475.25. Equinix Inc has a 1 year low of $335.29 and a 1 year high of $557.96. The firm has a market capitalization of $44.62 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 1.83 and a beta of 0.73.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $5.14 by ($3.45). Equinix had a return on equity of 6.29% and a net margin of 9.29%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the firm earned $3.63 earnings per share. Equinix’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts anticipate that Equinix Inc will post 20.7 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $2.46 per share. This represents a $9.84 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Tuesday, August 20th. Equinix’s dividend payout ratio (DPR) is presently 47.56%.
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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