Lederer & Associates Investment Counsel CA Has $638,000 Stake in Equinix, Inc. (NASDAQ:EQIX)

Lederer & Associates Investment Counsel CA decreased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 783 shares of the financial services provider’s stock after selling 15 shares during the period. Lederer & Associates Investment Counsel CA’s holdings in Equinix were worth $638,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EQIX. Rothschild Investment LLC raised its position in Equinix by 1.9% during the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 11 shares during the last quarter. Legacy Financial Advisors Inc. increased its stake in shares of Equinix by 3.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after buying an additional 11 shares during the period. Great Lakes Retirement Inc. raised its position in shares of Equinix by 1.2% during the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock worth $920,000 after acquiring an additional 12 shares during the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of Equinix by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 12 shares during the period. Finally, First Financial Bankshares Inc lifted its stake in shares of Equinix by 0.5% in the fourth quarter. First Financial Bankshares Inc now owns 2,470 shares of the financial services provider’s stock worth $2,329,000 after acquiring an additional 13 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director now directly owns 17,569 shares in the company, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurt Pletcher sold 127 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider now owns 1,842 shares of the company’s stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $880.62 on Thursday. The stock has a 50 day moving average of $829.39 and a 200 day moving average of $891.01. The company has a market capitalization of $86.14 billion, a price-to-earnings ratio of 103.00, a PEG ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. 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 (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the firm posted $8.86 EPS. Equinix’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.13%. Equinix’s dividend payout ratio (DPR) is 195.01%.

Analyst Ratings Changes

EQIX has been the subject of a number of analyst reports. BMO Capital Markets lowered their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Friday, May 23rd. Scotiabank dropped their price objective on Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus raised their target price on Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, Oppenheimer boosted their price target on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $1,004.80.

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.