TD Asset Management Inc Lowers Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• TD Asset Management Inc reduced its holdings in Equinix, Inc. by 41.0% in the first quarter, leaving them with 46,083 shares valued at approximately $37.57 million.
• Several institutional investors have modified their positions in Equinix, with 94.94% of the stock currently owned by hedge funds and institutional investors.
• Equinix announced a quarterly dividend of $4.69 per share, reflecting an annualized dividend yield of 2.36%, though its dividend payout ratio stands at a high 195.01%.

TD Asset Management Inc trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 41.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 46,083 shares of the financial services provider's stock after selling 32,037 shares during the quarter. TD Asset Management Inc's holdings in Equinix were worth $37,574,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC boosted its stake in shares of Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock valued at $307,000 after purchasing an additional 73 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in Equinix in the 4th quarter worth approximately $2,027,000. Loomis Sayles & Co. L P grew its stake in shares of Equinix by 17.5% during the 4th quarter. Loomis Sayles & Co. L P now owns 228 shares of the financial services provider's stock worth $215,000 after purchasing an additional 34 shares during the period. Level Four Advisory Services LLC grew its stake in shares of Equinix by 4.0% during the 4th quarter. Level Four Advisory Services LLC now owns 524 shares of the financial services provider's stock worth $494,000 after purchasing an additional 20 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Equinix by 58.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 240 shares of the financial services provider's stock valued at $226,000 after buying an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Trading Down 2.0%

Shares of Equinix stock traded down $15.75 during trading on Friday, hitting $769.42. The company's stock had a trading volume of 234,343 shares, compared to its average volume of 643,107. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a market cap of $75.26 billion, a price-to-earnings ratio of 75.51, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93. The stock has a 50-day moving average price of $833.04 and a two-hundred day moving average price of $854.59. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, beating the consensus estimate of $3.49 by $6.42. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. Equinix had a net margin of 11.11% and a return on equity of 7.27%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $9.22 EPS. Equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Equinix's payout ratio is presently 195.01%.

Insider Activity

In other Equinix news, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider directly owned 1,842 shares in the company, valued at $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the director 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 disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock valued at $2,808,008 over the last three months. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on EQIX shares. Stifel Nicolaus cut their price objective on Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Scotiabank dropped their target price on Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating on the stock in a report on Thursday, June 26th. Bank of America lowered their target price on Equinix from $1,000.00 to $950.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. New Street Research upgraded Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Mizuho reduced their target price on Equinix from $1,069.00 to $900.00 and set an "outperform" rating on the stock in a report on Tuesday, July 1st. Four research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $957.27.

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.