Kentucky Retirement Systems Increases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Kentucky Retirement Systems lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,152 shares of the financial services provider’s stock after buying an additional 22 shares during the quarter. Kentucky Retirement Systems’ holdings in Equinix were worth $5,411,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of EQIX. Public Employees Retirement System of Ohio grew its stake in Equinix by 0.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock valued at $147,131,000 after purchasing an additional 1,159 shares in the last quarter. Pinebridge Investments L.P. acquired a new stake in Equinix during the 4th quarter valued at approximately $3,724,000. Global Assets Advisory LLC acquired a new position in shares of Equinix in the 1st quarter worth approximately $15,187,000. Schroder Investment Management Group grew its position in shares of Equinix by 0.6% in the 4th quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after acquiring an additional 1,547 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its position in shares of Equinix by 48.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock worth $5,430,000 after acquiring an additional 2,133 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Up 1.2 %

Shares of Equinix stock opened at $870.99 on Friday. The business’s fifty day moving average price is $818.98 and its two-hundred day moving average price is $793.53. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $82.66 billion, a P/E ratio of 87.36, a PEG ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93.

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

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Wall Street Analyst Weigh In

EQIX has been the subject of several research reports. Truist Financial lifted their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. TD Cowen lifted their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Mizuho lifted their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada decreased their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $883.71.

Insider Transactions at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,043 shares of company stock valued at $8,282,119. Corporate insiders own 0.27% of the company’s stock.

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.