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

The Manufacturers Life Insurance Company raised its position in Equinix, Inc. (NASDAQ:EQIX) by 2.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,247 shares of the financial services provider’s stock after buying an additional 1,761 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Equinix worth $60,578,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Equinix by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after buying an additional 19,844 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Equinix by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after buying an additional 53,729 shares during the period. Clearbridge Investments LLC lifted its position in shares of Equinix by 21.5% during the 2nd quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock valued at $682,826,000 after buying an additional 159,576 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Equinix by 7.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 879,999 shares of the financial services provider’s stock valued at $665,807,000 after acquiring an additional 59,343 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Up 0.1 %

Shares of NASDAQ:EQIX opened at $979.10 on Thursday. The firm has a market capitalization of $94.47 billion, a PE ratio of 88.29, a price-to-earnings-growth ratio of 2.51 and a beta of 0.71. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm’s 50-day moving average is $898.34 and its two-hundred day moving average is $830.42.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.74%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EQIX. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their price objective for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Wells Fargo & Company boosted their target price on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price target on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $952.88.

Insiders Place Their Bets

In related news, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the sale, the executive vice president now owns 4,893 shares of the company’s stock, valued at $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the transaction, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,754 shares of company stock worth $11,666,756 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

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.