PGGM Investments Boosts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

PGGM Investments lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 265,852 shares of the financial services provider’s stock after buying an additional 11,300 shares during the quarter. Equinix makes up 3.3% of PGGM Investments’ holdings, making the stock its 3rd largest holding. PGGM Investments owned about 0.28% of Equinix worth $214,115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in Equinix by 7.4% during the fourth quarter. Russell Investments Group Ltd. now owns 520,213 shares of the financial services provider’s stock valued at $419,422,000 after purchasing an additional 35,706 shares in the last quarter. Truist Financial Corp boosted its holdings in Equinix by 106.4% in the fourth quarter. Truist Financial Corp now owns 37,603 shares of the financial services provider’s stock worth $30,285,000 after acquiring an additional 19,388 shares in the last quarter. Aew Capital Management L P boosted its holdings in Equinix by 0.8% in the fourth quarter. Aew Capital Management L P now owns 310,764 shares of the financial services provider’s stock worth $250,286,000 after acquiring an additional 2,503 shares in the last quarter. New Jersey Better Educational Savings Trust acquired a new stake in Equinix in the fourth quarter worth about $201,000. Finally, Stevens Capital Management LP acquired a new stake in Equinix in the fourth quarter worth about $599,000. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the subject of several recent research reports. Truist Financial lifted their price target on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th. BMO Capital Markets lifted their price target on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Barclays lowered their price target on Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Oppenheimer lifted their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $960.00 price objective on shares of Equinix in a research note on Wednesday, March 13th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $862.50.

Equinix Trading Down 0.9 %

NASDAQ:EQIX traded down $6.74 on Friday, reaching $731.61. The company’s stock had a trading volume of 779,483 shares, compared to its average volume of 563,003. Equinix, Inc. has a 12-month low of $672.88 and a 12-month high of $914.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm has a market cap of $69.22 billion, a price-to-earnings ratio of 70.96, a price-to-earnings-growth ratio of 1.90 and a beta of 0.58. The stock has a 50 day moving average price of $823.50 and a 200 day moving average price of $802.62.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were given a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.33%. Equinix’s dividend payout ratio is currently 165.28%.

Insider Buying and Selling at Equinix

In related news, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the sale, the executive vice president now owns 1,242 shares in the company, valued at approximately $1,034,548.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Keith D. Taylor sold 1,164 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Scott Crenshaw sold 460 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock worth $3,818,268 over the last quarter. 0.27% of the stock is currently owned by company insiders.

Equinix 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.