People s United Financial Inc. reduced its position in shares of Equinix Inc (NASDAQ:EQIX) by 54.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,681 shares of the financial services provider’s stock after selling 3,168 shares during the quarter. People s United Financial Inc.’s holdings in Equinix were worth $1,160,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in EQIX. Eaton Vance Management purchased a new stake in shares of Equinix during the third quarter worth $574,000. Hsbc Holdings PLC increased its position in Equinix by 98.2% during the third quarter. Hsbc Holdings PLC now owns 95,180 shares of the financial services provider’s stock worth $41,203,000 after buying an additional 47,168 shares during the last quarter. Blair William & Co. IL grew its position in shares of Equinix by 4.2% in the third quarter. Blair William & Co. IL now owns 16,630 shares of the financial services provider’s stock valued at $7,199,000 after purchasing an additional 669 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Equinix by 158.8% in the third quarter. Brown Advisory Inc. now owns 1,514 shares of the financial services provider’s stock valued at $655,000 after purchasing an additional 929 shares during the last quarter. Finally, Aviva PLC grew its position in shares of Equinix by 153.1% in the third quarter. Aviva PLC now owns 193,433 shares of the financial services provider’s stock valued at $83,736,000 after purchasing an additional 117,017 shares during the last quarter. Institutional investors own 99.50% of the company’s stock.
EQIX has been the subject of several research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $454.00 target price (down previously from $460.00) on shares of Equinix in a research note on Tuesday, October 23rd. BidaskClub cut shares of Equinix from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Mitsubishi UFJ Financial Group lifted their target price on shares of Equinix to $483.00 and gave the company an “overweight” rating in a research note on Friday, August 17th. ValuEngine cut shares of Equinix from a “hold” rating to a “sell” rating in a research note on Thursday, August 23rd. Finally, Credit Suisse Group set a $500.00 price target on shares of Equinix and gave the company a “buy” rating in a report on Friday, November 2nd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $501.28.
Shares of NASDAQ:EQIX opened at $386.47 on Friday. The company has a market capitalization of $31.57 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.31 and a beta of 0.75. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.54. Equinix Inc has a one year low of $370.79 and a one year high of $462.43.
Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.47 by ($2.92). Equinix had a net margin of 6.46% and a return on equity of 7.70%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business posted $3.63 EPS. Equinix’s revenue was up 11.4% on a year-over-year basis. On average, research analysts forecast that Equinix Inc will post 18.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 14th will be issued a $2.28 dividend. This represents a $9.12 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Tuesday, November 13th. Equinix’s payout ratio is 49.22%.
In related news, insider Yau Tat Lee sold 2,792 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $382.86, for a total transaction of $1,068,945.12. Following the transaction, the insider now directly owns 2,182 shares of the company’s stock, valued at $835,400.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Earl Campbell sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $395.00, for a total transaction of $592,500.00. Following the transaction, the insider now directly owns 1,388 shares in the company, valued at $548,260. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
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Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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