The Manufacturers Life Insurance Company Boosts Position in Equinix, Inc. (NASDAQ:EQIX)

The Manufacturers Life Insurance Company lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 68,247 shares of the financial services provider’s stock after acquiring an additional 1,761 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Equinix were worth $60,578,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of EQIX. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the second quarter valued at $30,000. LRI Investments LLC acquired a new stake in shares of Equinix during the first quarter worth about $31,000. GHP Investment Advisors Inc. lifted its holdings in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Equinix during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $979.10 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a 50-day simple moving average of $898.34 and a 200-day simple moving average of $830.42. The company has a market capitalization of $94.47 billion, a PE ratio of 88.29, a P/E/G ratio of 2.51 and a beta of 0.71.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.74%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Activity

In related news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares of the company’s stock, valued at approximately $3,262.40. This represents a 99.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Simon Miller sold 569 shares of Equinix 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 transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The trade was a 9.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,754 shares of company stock worth $11,666,756. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EQIX shares. TD Cowen increased their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price target on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Evercore ISI raised their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $952.88.

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.