Duff & Phelps Investment Management Co. Grows Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Duff & Phelps Investment Management Co. grew its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 371,399 shares of the financial services provider's stock after purchasing an additional 8,550 shares during the quarter. Equinix makes up about 3.6% of Duff & Phelps Investment Management Co.'s portfolio, making the stock its 2nd largest position. Duff & Phelps Investment Management Co. owned 0.40% of Equinix worth $299,121,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Equinix by 44.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider's stock worth $1,015,610,000 after buying an additional 431,435 shares during the period. AMF Tjanstepension AB increased its stake in Equinix by 332.3% in the third quarter. AMF Tjanstepension AB now owns 161,998 shares of the financial services provider's stock valued at $117,666,000 after purchasing an additional 124,524 shares in the last quarter. Ameriprise Financial Inc. increased its position in Equinix by 27.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 431,603 shares of the financial services provider's stock valued at $313,461,000 after buying an additional 92,575 shares in the last quarter. Nordea Investment Management AB raised its stake in Equinix by 277.7% during the 3rd quarter. Nordea Investment Management AB now owns 123,366 shares of the financial services provider's stock worth $90,493,000 after buying an additional 90,705 shares during the period. Finally, PGGM Investments boosted its holdings in Equinix by 54.0% in the third quarter. PGGM Investments now owns 254,552 shares of the financial services provider's stock worth $184,871,000 after acquiring an additional 89,274 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Equinix from $767.00 to $762.00 and set an "equal weight" rating for the company in a research report on Thursday, March 28th. HSBC cut shares of Equinix from a "buy" rating to a "hold" rating and set a $900.00 price target on the stock. in a research report on Wednesday, March 20th. Wells Fargo & Company lifted their target price on Equinix from $800.00 to $825.00 and gave the company an "equal weight" rating in a research report on Thursday, February 15th. Oppenheimer raised their price objective on Equinix from $875.00 to $950.00 and gave the company an "outperform" rating in a research note on Wednesday, March 20th. Finally, BMO Capital Markets increased their target price on shares of Equinix from $910.00 to $925.00 and gave the company an "outperform" rating in a report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $862.50.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded down $5.27 during trading on Monday, hitting $726.34. 1,002,832 shares of the company were exchanged, compared to its average volume of 576,505. Equinix, Inc. has a 52-week low of $672.88 and a 52-week high of $914.93. The stock has a 50 day moving average of $820.91 and a 200 day moving average of $803.28. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $68.73 billion, a PE ratio of 70.45, a P/E/G ratio of 1.89 and a beta of 0.58.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Tuesday, February 27th. Equinix's payout ratio is 165.28%.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 729 shares of the company's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the transaction, the insider now owns 14,002 shares of the company's stock, valued at $11,661,425.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Scott Crenshaw sold 460 shares of Equinix stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total transaction of $383,166.20. Following the completion of the sale, the executive vice president now directly owns 1,242 shares of the company's stock, valued at approximately $1,034,548.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 729 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the transaction, the insider now directly owns 14,002 shares in the company, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,585 shares of company stock worth $3,818,268. 0.27% of the stock is owned by company insiders.

About Equinix

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.

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