Northern Trust Corp Grows Position in Equinix, Inc. (NASDAQ:EQIX)

Northern Trust Corp lifted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 65.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,483,781 shares of the financial services provider's stock after buying an additional 586,034 shares during the quarter. Northern Trust Corp owned approximately 1.54% of Equinix worth $1,399,042,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Equinix in the 4th quarter valued at $1,067,270,000. Wellington Management Group LLP raised its position in shares of Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after buying an additional 401,991 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Equinix during the fourth quarter valued at $328,899,000. Proficio Capital Partners LLC bought a new position in Equinix in the 4th quarter worth about $246,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of 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 acquiring an additional 203,656 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now directly owns 8,377 shares of the company's stock, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles J. Meyers sold 3,562 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the sale, the chairman now directly owns 15,513 shares of the company's stock, valued at $14,412,197.52. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,040 shares of company stock valued at $6,547,068 in the last three months. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EQIX shares. Wells Fargo & Company lowered their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. New Street Research raised Equinix to a "strong-buy" rating in a research note on Monday. Citizens Jmp upgraded Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Citigroup dropped their target price on Equinix from $1,020.00 to $970.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, BMO Capital Markets cut 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. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $1,004.05.

Equinix Trading Up 0.1 %

Shares of EQIX traded up $1.22 during trading hours on Thursday, reaching $861.97. 677,252 shares of the company traded hands, compared to its average volume of 545,882. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The company's fifty day moving average price is $830.37 and its two-hundred day moving average price is $894.59. The company has a market capitalization of $84.32 billion, a price-to-earnings ratio of 100.82, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating the consensus estimate of $9.01 by $0.66. The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The business's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $8.86 EPS. Equities research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is presently 195.01%.

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.