TCW Group Inc. reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,206 shares of the financial services provider’s stock after selling 9,827 shares during the quarter. Equinix makes up 1.4% of TCW Group Inc.’s holdings, making the stock its 20th largest position. TCW Group Inc. owned 0.50% of Equinix worth $174,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital World Investors increased its position in Equinix by 247.0% during the 2nd quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock valued at $458,926,000 after buying an additional 761,220 shares in the last quarter. Janus Henderson Group PLC increased its position in Equinix by 1,517.9% during the 2nd quarter. Janus Henderson Group PLC now owns 499,004 shares of the financial services provider’s stock valued at $214,150,000 after buying an additional 468,162 shares in the last quarter. Uniplan Investment Counsel Inc. acquired a new position in Equinix during the 2nd quarter valued at about $13,563,000. Egerton Capital UK LLP increased its position in Equinix by 152.0% during the 3rd quarter. Egerton Capital UK LLP now owns 487,173 shares of the financial services provider’s stock valued at $217,425,000 after buying an additional 293,842 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Equinix by 22.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,182,730 shares of the financial services provider’s stock valued at $507,583,000 after buying an additional 214,396 shares in the last quarter. Hedge funds and other institutional investors own 95.09% of the company’s stock.
Equinix, Inc. (EQIX) traded up $1.91 during trading on Tuesday, reaching $484.12. The company had a trading volume of 428,800 shares, compared to its average volume of 502,095. The firm has a market capitalization of $37,725.07, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. Equinix, Inc. has a 12-month low of $314.55 and a 12-month high of $495.35. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, topping the consensus estimate of $1.39 by $2.24. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Equinix had a return on equity of 5.59% and a net margin of 5.58%. Equinix’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the company earned $3.95 earnings per share. sell-side analysts anticipate that Equinix, Inc. will post 16.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 15th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, November 14th. This represents a $8.00 dividend on an annualized basis and a yield of 1.65%. Equinix’s dividend payout ratio is currently 264.03%.
In other Equinix news, insider Karl Strohmeyer sold 250 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $464.96, for a total transaction of $116,240.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 593 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $484.99, for a total value of $287,599.07. The disclosure for this sale can be found here. Insiders have sold 7,560 shares of company stock worth $3,459,196 in the last quarter. 0.58% of the stock is currently owned by company insiders.
Several research analysts recently issued reports on the company. Credit Suisse Group reaffirmed an “outperform” rating and set a $515.00 target price (up from $510.00) on shares of Equinix in a research report on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $497.00 target price (up from $485.00) on shares of Equinix in a research report on Thursday, August 3rd. Berenberg Bank reaffirmed a “buy” rating and set a $550.00 target price on shares of Equinix in a research report on Friday, November 3rd. BidaskClub raised Equinix from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Finally, UBS AG began coverage on Equinix in a report on Wednesday, October 18th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $495.20.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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