Lincluden Management Ltd. Has $2.12 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Lincluden Management Ltd. trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 40.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,597 shares of the financial services provider's stock after selling 1,746 shares during the quarter. Lincluden Management Ltd.'s holdings in Equinix were worth $2,117,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pinney & Scofield Inc. bought a new stake in Equinix in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC lifted its position in Equinix by 127.8% in the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 23 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in Equinix by 40.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after buying an additional 12 shares during the period. Pacific Center for Financial Services increased its stake in Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after buying an additional 15 shares during the period. Finally, Park Square Financial Group LLC acquired a new position in Equinix during the 4th quarter valued at about $49,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Performance

Equinix stock traded up $11.89 on Friday, hitting $801.43. The company's stock had a trading volume of 482,660 shares, compared to its average volume of 676,624. The firm has a market cap of $78.40 billion, a P/E ratio of 83.31, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The company has a fifty day moving average price of $838.88 and a 200-day moving average price of $858.14. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results 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. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.86 EPS. On average, equities analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.34%. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Insider Activity

In related news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the transaction, the insider directly owned 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock valued at $2,808,008 in the last ninety days. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on EQIX shares. Scotiabank lowered their target price on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 26th. BMO Capital Markets cut shares of Equinix from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $1,045.00 to $850.00 in a research note on Thursday, June 26th. JPMorgan Chase & Co. lowered their price objective on shares of Equinix from $975.00 to $935.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. TD Securities raised their target price on shares of Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group decreased their target price on shares of Equinix from $1,020.00 to $880.00 and set a "buy" rating for the company in a report on Wednesday, July 2nd. Four research 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $957.05.

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.