Crawford Investment Counsel Inc. boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 18.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 506 shares of the financial services provider’s stock after purchasing an additional 78 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in Equinix were worth $375,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas increased its position in Equinix by 24.0% during the first quarter. Teacher Retirement System of Texas now owns 21,634 shares of the financial services provider’s stock worth $16,044,000 after acquiring an additional 4,184 shares during the period. Byrne Asset Management LLC bought a new stake in shares of Equinix in the fourth quarter valued at about $102,000. Steward Partners Investment Advisory LLC grew its position in Equinix by 6.9% during the first quarter. Steward Partners Investment Advisory LLC now owns 11,017 shares of the financial services provider’s stock worth $8,171,000 after buying an additional 712 shares in the last quarter. Peterson Wealth Services bought a new position in Equinix during the first quarter valued at about $211,000. Finally, Signaturefd LLC raised its holdings in Equinix by 28.6% in the 1st quarter. Signaturefd LLC now owns 877 shares of the financial services provider’s stock valued at $650,000 after acquiring an additional 195 shares in the last quarter. Institutional investors and hedge funds own 93.82% of the company’s stock.
In related news, CEO Charles J. Meyers sold 377 shares of Equinix stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $650.00, for a total transaction of $245,050.00. Following the completion of the sale, the chief executive officer now directly owns 7,439 shares of the company’s stock, valued at $4,835,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Charles J. Meyers sold 377 shares of Equinix stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $650.00, for a total transaction of $245,050.00. Following the transaction, the chief executive officer now owns 7,439 shares of the company’s stock, valued at approximately $4,835,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 3,356 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $710.15, for a total transaction of $2,383,263.40. Following the completion of the sale, the insider now directly owns 17,284 shares of the company’s stock, valued at approximately $12,274,232.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,808 shares of company stock valued at $3,394,370. 0.32% of the stock is currently owned by insiders.
Equinix Trading Up 1.1 %
Equinix Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 17th will be given a dividend of $3.10 per share. The ex-dividend date is Tuesday, August 16th. This represents a $12.40 dividend on an annualized basis and a yield of 1.88%. Equinix’s payout ratio is presently 176.39%.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on EQIX. William Blair restated an “outperform” rating on shares of Equinix in a research report on Thursday, July 28th. Barclays reduced their price objective on shares of Equinix from $823.00 to $822.00 and set an “overweight” rating for the company in a report on Thursday, August 18th. Morgan Stanley lowered their target price on shares of Equinix from $773.00 to $732.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 26th. Oppenheimer upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $750.00 price target for the company in a research note on Thursday, July 28th. Finally, Credit Suisse Group lowered their price objective on Equinix from $718.00 to $716.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $818.75.
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.
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