BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 2,346 Shares of Equinix, Inc. (NASDAQ:EQIX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,181 shares of the financial services provider's stock after purchasing an additional 2,346 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Equinix were worth $17,143,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of EQIX. Oppenheimer & Co. Inc. increased its holdings in shares of Equinix by 61.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock valued at $7,946,000 after purchasing an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Equinix by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock valued at $592,191,000 after buying an additional 2,560 shares during the last quarter. National Pension Service raised its holdings in Equinix by 1.3% in the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock valued at $229,263,000 after acquiring an additional 3,164 shares during the period. Empowered Funds LLC lifted its position in Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock worth $2,361,000 after acquiring an additional 404 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Equinix by 20.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider's stock worth $93,807,000 after acquiring an additional 17,084 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

Shares of Equinix stock traded up $15.25 during trading on Tuesday, hitting $878.71. The stock had a trading volume of 97,154 shares, compared to its average volume of 524,169. The business's 50-day moving average is $827.97 and its 200 day moving average is $891.18. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $85.95 billion, a price-to-earnings ratio of 102.59, a P/E/G ratio of 1.78 and a beta of 0.97.

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

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.13%. Equinix's dividend payout ratio is presently 195.01%.

Insider Buying and Selling

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director now directly owns 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the transaction, the insider now owns 1,842 shares in the company, valued at $1,616,723.40. This represents a 6.45% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. New Street Research upgraded Equinix to a "strong-buy" rating in a research report on Monday, April 28th. Scotiabank dropped their target price on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 22nd. BMO Capital Markets lowered 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 report on Thursday, February 13th. Finally, Citigroup increased their price objective on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and six have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $1,004.65.

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.