Mackenzie Financial Corp Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Mackenzie Financial Corp cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 0.4% in the second quarter, HoldingsChannel reports. The firm owned 32,785 shares of the financial services provider’s stock after selling 148 shares during the quarter. Mackenzie Financial Corp’s holdings in Equinix were worth $24,805,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Cypress Capital Group grew its stake in shares of Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after buying an additional 13 shares in the last quarter. MRA Advisory Group grew its position in Equinix by 3.2% in the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 13 shares in the last quarter. Banco Santander S.A. increased its stake in Equinix by 2.0% during the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 14 shares during the last quarter. Abbrea Capital LLC raised its position in Equinix by 5.5% during the second quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 14 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Equinix by 30.0% in the 1st quarter. UMB Bank n.a. now owns 65 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 0.4 %

Shares of NASDAQ:EQIX opened at $882.69 on Friday. The business’s 50 day moving average is $828.80 and its 200 day moving average is $791.95. The stock has a market cap of $83.77 billion, a P/E ratio of 88.53, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. Equinix’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.04 earnings per share. Sell-side analysts predict that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EQIX. TD Cowen increased their price target on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Mizuho increased their target price on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Truist Financial raised their target price on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $891.57.

Insider Activity

In other news, CAO Simon Miller sold 569 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Simon Miller sold 569 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,043 shares of company stock worth $8,282,119. 0.27% of the stock is currently 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.