Bank of Nova Scotia Grows Position in Equinix, Inc. (NASDAQ:EQIX)

Bank of Nova Scotia lifted its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 511.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,194 shares of the financial services provider's stock after acquiring an additional 62,889 shares during the quarter. Bank of Nova Scotia owned approximately 0.08% of Equinix worth $70,900,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Kestra Investment Management LLC acquired a new position in Equinix during the 4th quarter worth $31,000. J.Safra Asset Management Corp bought a new position in Equinix in the fourth quarter valued at about $39,000. Sierra Ocean LLC acquired a new stake in Equinix in the fourth quarter worth about $42,000. Thompson Investment Management Inc. acquired a new position in Equinix during the 4th quarter valued at about $47,000. Finally, Key Financial Inc boosted its stake in shares of Equinix by 30.4% in the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 14 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Price Performance

Shares of NASDAQ EQIX traded up $7.40 during midday trading on Monday, hitting $784.23. 93,427 shares of the company's stock were exchanged, compared to its average volume of 553,115. The business's fifty day moving average price is $863.06 and its two-hundred day moving average price is $901.08. The company has a market cap of $76.33 billion, a price-to-earnings ratio of 91.72, a PEG ratio of 1.78 and a beta of 0.95. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Remove Ads

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This is a positive change from Equinix's previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.39%. Equinix's dividend payout ratio is presently 219.42%.

Insider Transactions at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the transaction, the chairman now owns 15,233 shares of the company's stock, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 125 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on EQIX shares. Barclays lifted their price objective on shares of Equinix from $822.00 to $834.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a report on Monday, January 27th. Wolfe Research raised Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price objective on the stock in a research note on Thursday, March 27th. Wells Fargo & Company decreased their target price on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Finally, BMO Capital Markets decreased their price objective on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $1,007.59.

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.