Honeywell International Inc. lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 6.0% during the second quarter, Holdings Channel reports. The firm owned 17,114 shares of the financial services provider’s stock after selling 1,100 shares during the period. Honeywell International Inc.’s holdings in Equinix were worth $7,345,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC raised its position in shares of Equinix by 1,033.3% in the first quarter. Proficio Capital Partners LLC now owns 238 shares of the financial services provider’s stock worth $105,000 after buying an additional 217 shares during the period. Point72 Asia Hong Kong Ltd raised its position in shares of Equinix by 47.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 252 shares of the financial services provider’s stock worth $101,000 after buying an additional 81 shares during the period. Advisory Services Network LLC acquired a new position in shares of Equinix during the first quarter worth approximately $112,000. Guardian Life Insurance Co. of America raised its position in shares of Equinix by 9.9% in the first quarter. Guardian Life Insurance Co. of America now owns 300 shares of the financial services provider’s stock worth $120,000 after buying an additional 27 shares during the period. Finally, Smithfield Trust Co. raised its position in shares of Equinix by 19.1% in the second quarter. Smithfield Trust Co. now owns 337 shares of the financial services provider’s stock worth $145,000 after buying an additional 54 shares during the period. Institutional investors own 95.31% of the company’s stock.
Shares of Equinix, Inc. (NASDAQ EQIX) opened at 444.23 on Tuesday. The firm has a market cap of $34.62 billion, a price-to-earnings ratio of 163.14 and a beta of 0.59. Equinix, Inc. has a 12 month low of $314.55 and a 12 month high of $455.37.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.41 by $2.83. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. Equinix had a net margin of 5.18% and a return on equity of 5.51%. On average, analysts anticipate that Equinix, Inc. will post $4.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd will be issued a $2.00 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $8.00 annualized dividend and a yield of 1.80%. Equinix’s dividend payout ratio is presently 293.04%.
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A number of research analysts have recently commented on the company. Royal Bank Of Canada upped their price target on Equinix from $470.00 to $505.00 and gave the stock an “outperform” rating in a report on Monday. Cowen and Company reiterated an “outperform” rating and set a $482.00 price target (up from $465.00) on shares of Equinix in a report on Thursday, August 3rd. Barclays PLC reiterated an “equal weight” rating and set a $475.00 price target (up from $410.00) on shares of Equinix in a report on Thursday, August 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $497.00 price target (up from $485.00) on shares of Equinix in a report on Thursday, August 3rd. Finally, BidaskClub upgraded Equinix from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $464.78.
In other Equinix news, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $440.99, for a total value of $440,990.00. Following the completion of the transaction, the chief financial officer now directly owns 36,296 shares of the company’s stock, valued at approximately $16,006,173.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen M. Smith sold 5,348 shares of Equinix stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $432.60, for a total value of $2,313,544.80. Following the completion of the transaction, the chief executive officer now directly owns 18,967 shares of the company’s stock, valued at $8,205,124.20. The disclosure for this sale can be found here. Insiders sold a total of 17,699 shares of company stock valued at $7,722,276 over the last ninety days. Insiders own 0.58% of the company’s stock.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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