National Pension Service Has $166.43 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

National Pension Service boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 206,642 shares of the financial services provider’s stock after buying an additional 6,530 shares during the quarter. National Pension Service’s holdings in Equinix were worth $166,427,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EQIX. Gryphon Financial Partners LLC acquired a new stake in Equinix during the 4th quarter valued at approximately $581,000. Welch & Forbes LLC boosted its position in Equinix by 6.7% during the fourth quarter. Welch & Forbes LLC now owns 7,120 shares of the financial services provider’s stock valued at $5,734,000 after acquiring an additional 448 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Equinix by 165.4% during the 4th quarter. Apollon Wealth Management LLC now owns 921 shares of the financial services provider’s stock worth $741,000 after acquiring an additional 574 shares during the period. Lincoln National Corp raised its position in shares of Equinix by 13.9% in the 4th quarter. Lincoln National Corp now owns 1,212 shares of the financial services provider’s stock worth $976,000 after acquiring an additional 148 shares in the last quarter. Finally, Machina Capital S.A.S. acquired a new position in shares of Equinix in the 4th quarter valued at about $929,000. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on EQIX. BMO Capital Markets lifted their target price on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Royal Bank of Canada increased their target price on shares of Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Morgan Stanley dropped their price objective on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Stifel Nicolaus restated a “buy” rating and issued a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Finally, Truist Financial increased their price target on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $870.44.

Equinix Stock Performance

Shares of Equinix stock traded down $19.16 on Wednesday, reaching $692.71. 875,729 shares of the company traded hands, compared to its average volume of 599,941. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $65.54 billion, a PE ratio of 67.19, a PEG ratio of 1.81 and a beta of 0.62. The company has a 50 day moving average of $800.46 and a 200 day moving average of $802.10. Equinix, Inc. has a 52 week low of $672.88 and a 52 week high of $914.93.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.46%. Equinix’s payout ratio is presently 165.28%.

Insider Activity

In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction dated Tuesday, February 13th. The shares were 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 owns 23,187 shares in the company, valued at $19,314,307.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Scott Crenshaw sold 460 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total value of $383,166.20. Following the sale, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at approximately $19,314,307.26. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock valued at $3,818,268 in the last 90 days. 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.