Miller Howard Investments Inc. NY Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Miller Howard Investments Inc. NY lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 20.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,864 shares of the financial services provider's stock after buying an additional 646 shares during the period. Miller Howard Investments Inc. NY's holdings in Equinix were worth $3,150,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. First United Bank & Trust purchased a new stake in Equinix during the first quarter worth about $451,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Equinix by 20.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider's stock valued at $93,807,000 after acquiring an additional 17,084 shares during the period. 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 acquiring an additional 40,791 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in shares of Equinix by 0.8% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 51,045 shares of the financial services provider's stock worth $41,620,000 after acquiring an additional 413 shares during the period. Finally, CWA Asset Management Group LLC grew its holdings in shares of Equinix by 72.0% in the 1st quarter. CWA Asset Management Group LLC now owns 399 shares of the financial services provider's stock worth $325,000 after acquiring an additional 167 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EQIX. Wells Fargo & Company reduced their price objective on Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Truist Financial cut their price target on Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a research note on Tuesday. The Goldman Sachs Group decreased their price objective on shares of Equinix from $1,020.00 to $880.00 and set a "buy" rating on the stock in a research report on Wednesday. Wolfe Research cut shares of Equinix from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Finally, Citigroup lifted their target price on shares of Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $960.55.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the sale, the director directly owned 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer owned 9,615 shares in the company, valued at $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock worth $2,808,008 in the last quarter. 0.27% of the stock is owned by insiders.

Equinix Trading Up 0.7%

Shares of NASDAQ:EQIX traded up $5.35 during midday trading on Thursday, reaching $800.50. The company's stock had a trading volume of 458,458 shares, compared to its average volume of 555,682. The firm has a market cap of $78.30 billion, a price-to-earnings ratio of 82.74, a price-to-earnings-growth ratio of 1.14 and a beta of 0.93. The business has a 50 day moving average price of $867.51 and a 200 day moving average price of $877.55. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the company earned $8.86 EPS. The firm's quarterly revenue was up 4.1% on a year-over-year basis. Research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's dividend payout ratio is currently 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.