Lincluden Management Ltd. Acquires 1,215 Shares of Equinix, Inc. $EQIX

Key Points

• Lincluden Management Ltd. increased its stake in Equinix by 47% in Q4, buying 1,215 shares to hold 3,800 shares worth about $2.91 million.
• Insiders have been net sellers, disposing of 6,380 shares (~$6.18 million) over the past three months; company insiders now own just 0.27% of the stock.
• Analysts maintain a consensus "Moderate Buy" with a $1,082.75 average price target, and Equinix recently raised its quarterly dividend to $5.16 (annualized $20.64), yielding ~1.9% but with a high payout ratio (~150%).

Lincluden Management Ltd. boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 47.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,800 shares of the financial services provider's stock after purchasing an additional 1,215 shares during the period. Lincluden Management Ltd.'s holdings in Equinix were worth $2,911,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. increased its holdings in Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 26 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in Equinix by 200.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 28 shares in the last quarter. WPG Advisers LLC increased its holdings in Equinix by 51.7% during the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 15 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in Equinix during the 3rd quarter worth about $37,000. Finally, Cornerstone Planning Group LLC lifted its position in Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock worth $37,000 after buying an additional 13 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Equinix

In related news, Chairman Charles J. Meyers sold 2,716 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $965.15, for a total value of $2,621,347.40. Following the completion of the transaction, the chairman directly owned 12,594 shares in the company, valued at approximately $12,155,099.10. The trade was a 17.74% 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, EVP Raouf Abdel sold 584 shares of Equinix stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $965.69, for a total transaction of $563,962.96. Following the completion of the transaction, the executive vice president directly owned 7,768 shares in the company, valued at approximately $7,501,479.92. The trade was a 6.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,380 shares of company stock worth $6,179,022 over the last three months. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on EQIX shares. The Goldman Sachs Group increased their price objective on shares of Equinix from $785.00 to $894.00 and gave the stock a "neutral" rating in a report on Thursday, February 12th. Truist Financial reissued a "buy" rating and issued a $1,127.00 price target (up from $1,087.00) on shares of Equinix in a report on Tuesday, March 31st. HSBC lifted their price objective on Equinix from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Monday. Evercore restated an "outperform" rating and set a $1,240.00 target price on shares of Equinix in a research report on Tuesday. Finally, TD Cowen reiterated a "buy" rating on shares of Equinix in a research report on Thursday, February 12th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Equinix currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,082.75.

Equinix Stock Down 1.2%

Shares of NASDAQ:EQIX opened at $1,076.40 on Wednesday. Equinix, Inc. has a 52 week low of $710.52 and a 52 week high of $1,128.68. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $106.15 billion, a PE ratio of 78.28, a PEG ratio of 2.78 and a beta of 1.01. The company has a 50 day moving average price of $998.36 and a two-hundred day moving average price of $867.83.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. Equinix's quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $7.92 EPS. Analysts forecast that Equinix, Inc. will post 37.72 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were given a dividend of $5.16 per share. This is an increase from Equinix's previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, February 25th. Equinix's payout ratio is 150.11%.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix's offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.

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