Intact Investment Management Inc. Acquires New Shares in Equinix, Inc. (NASDAQ:EQIX)

Intact Investment Management Inc. bought a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,320 shares of the financial services provider's stock, valued at approximately $2,512,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its stake in shares of 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 worth $147,131,000 after buying an additional 1,159 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in shares of Equinix in the 4th quarter valued at about $3,724,000. Global Assets Advisory LLC bought a new stake in shares of Equinix in the 1st quarter valued at about $15,187,000. Schroder Investment Management Group raised its holdings 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 valued at $194,864,000 after purchasing an additional 1,547 shares during the period. Finally, Banque Cantonale Vaudoise raised its holdings 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 valued at $5,430,000 after purchasing an additional 2,133 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded up $15.62 on Friday, reaching $834.36. 520,988 shares of the company's stock were exchanged, compared to its average volume of 552,091. The company has a fifty day moving average of $792.98 and a 200-day moving average of $795.31. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The company has a market capitalization of $79.19 billion, a price-to-earnings ratio of 83.69, a PEG ratio of 2.80 and a beta of 0.68. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 7.73% and a net margin of 11.32%. The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.04 EPS. On average, research analysts predict that Equinix, Inc. will post 31.23 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.04%. Equinix's dividend payout ratio is 170.91%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EQIX. Royal Bank of Canada dropped their target price on shares of Equinix from $950.00 to $922.00 and set an "outperform" rating on the stock in a report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Equinix from $880.00 to $910.00 and gave the company a "buy" rating in a report on Tuesday, August 13th. The Goldman Sachs Group assumed coverage on shares of Equinix in a report on Monday, July 1st. They issued a "buy" rating and a $870.00 price target on the stock. TD Cowen increased their price target on shares of Equinix from $859.00 to $865.00 and gave the company a "buy" rating in a report on Thursday, August 8th. Finally, Mizuho assumed coverage on shares of Equinix in a report on Thursday, July 11th. They issued an "outperform" rating and a $873.00 price target on the stock. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $876.71.

About Equinix

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.