AGF Management Ltd. Buys 4,883 Shares of Equinix, Inc. (NASDAQ:EQIX)

AGF Management Ltd. boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 15.8% during the 1st quarter, HoldingsChannel reports. The fund owned 35,833 shares of the financial services provider’s stock after acquiring an additional 4,883 shares during the quarter. AGF Management Ltd.’s holdings in Equinix were worth $29,216,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp lifted its position in Equinix by 8.2% during the 1st quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider’s stock worth $42,643,000 after buying an additional 3,981 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Equinix by 71.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider’s stock valued at $60,690,000 after purchasing an additional 31,073 shares during the period. First United Bank & Trust bought a new stake in shares of Equinix in the 1st quarter valued at about $451,000. Miller Howard Investments Inc. NY raised its holdings in shares of Equinix by 20.1% in the 1st quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider’s stock valued at $3,150,000 after purchasing an additional 646 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Equinix by 113.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 17,954 shares of the financial services provider’s stock valued at $14,639,000 after purchasing an additional 9,534 shares during the period. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EQIX. Wells Fargo & Company dropped their target price on shares of Equinix from $1,065.00 to $925.00 and set an “overweight” rating on the stock in a report on Thursday, June 26th. UBS Group dropped their target price on shares of Equinix from $1,035.00 to $950.00 and set a “buy” rating on the stock in a report on Friday, July 11th. TD Securities upped their price target on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Dbs Bank upgraded shares of Equinix to a “moderate buy” rating in a research note on Wednesday, August 6th. Finally, New Street Research upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $959.86.

Insider Buying and Selling

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the sale, the chief executive officer owned 9,615 shares in the company, valued at $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the sale, the director owned 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of Equinix stock opened at $776.75 on Tuesday. The company has a 50 day moving average of $818.70 and a 200-day moving average of $846.57. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. The company has a market cap of $76.01 billion, a PE ratio of 76.08, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business posted $9.22 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be given a $4.69 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. Equinix’s dividend payout ratio (DPR) is currently 183.74%.

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.