Equinix, Inc. (NASDAQ:EQIX) Shares Bought by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its holdings in Equinix, Inc. by 169.7%, owning 394,223 shares valued at approximately $321 million at the end of the first quarter.
• The stock has a consensus price target of $959.86, with an average rating of "Buy" from analysts, while some firms have adjusted their price targets notably downward.
• Equinix declared a $4.69 quarterly dividend with an ex-dividend date of August 20th, representing an annual yield of 2.4% despite a high payout ratio of 183.74%.

National Bank of Canada FI boosted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 169.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 394,223 shares of the financial services provider's stock after buying an additional 248,075 shares during the period. National Bank of Canada FI owned approximately 0.40% of Equinix worth $321,427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of EQIX. Pinney & Scofield Inc. acquired a new position in Equinix in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC lifted its holdings in Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 23 shares during the period. Cornerstone Planning Group LLC lifted its holdings in Equinix by 40.0% in the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 12 shares during the period. Pacific Center for Financial Services lifted its holdings in Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 15 shares during the period. Finally, Tidemark LLC lifted its holdings in Equinix by 57.1% in the first quarter. Tidemark LLC now owns 44 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 16 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Bank of America reduced their target price on Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. New Street Research raised Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Stifel Nicolaus reduced their target price on Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Cowen reaffirmed a "buy" rating on shares of Equinix in a research note on Thursday, July 3rd. Finally, UBS Group reduced their target price on Equinix from $1,035.00 to $950.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Five investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $959.86.

Equinix Trading Down 0.4%

Shares of EQIX traded down $3.14 during midday trading on Friday, reaching $776.20. The company had a trading volume of 252,816 shares, compared to its average volume of 539,724. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The stock has a market cap of $75.96 billion, a PE ratio of 76.02, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90. The firm has a 50 day simple moving average of $820.97 and a 200-day simple moving average of $848.37. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company earned $9.22 EPS. Research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Equinix's dividend payout ratio (DPR) is presently 183.74%.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $15,274,664.29. This trade 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 this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the sale, the chief executive officer directly owned 9,615 shares of the company's stock, valued at $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.