Foresight Group Ltd Liability Partnership Has $23.51 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Foresight Group Ltd Liability Partnership lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 54.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,067 shares of the financial services provider’s stock after purchasing an additional 10,934 shares during the period. Equinix comprises 10.0% of Foresight Group Ltd Liability Partnership’s portfolio, making the stock its 5th largest holding. Foresight Group Ltd Liability Partnership’s holdings in Equinix were worth $23,505,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CNB Bank lifted its holdings in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix during the second quarter worth $30,000. LRI Investments LLC purchased a new position in Equinix during the first quarter valued at $31,000. Meeder Asset Management Inc. bought a new stake in Equinix in the 2nd quarter valued at $36,000. Finally, Rise Advisors LLC purchased a new stake in Equinix in the 1st quarter worth $39,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EQIX shares. Mizuho raised their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. The Goldman Sachs Group began coverage on Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. TD Cowen increased their target price on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $883.71.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares in the company, valued at $7,729,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,043 shares of company stock worth $8,282,119. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

EQIX opened at $860.95 on Thursday. The business has a fifty day moving average of $817.51 and a 200 day moving average of $792.99. The stock has a market cap of $81.71 billion, a P/E ratio of 86.35, a PEG ratio of 2.11 and a beta of 0.71. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.04 earnings per share. As a group, sell-side analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

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.