Equinix Inc (EQIX) Stake Lowered by Cadence Capital Management LLC
Cadence Capital Management LLC lessened its position in Equinix Inc (NASDAQ:EQIX) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,472 shares of the financial services provider’s stock after selling 211 shares during the period. Cadence Capital Management LLC’s holdings in Equinix were worth $1,070,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Gabelli Funds LLC raised its holdings in shares of Equinix by 7.4% in the third quarter. Gabelli Funds LLC now owns 14,500 shares of the financial services provider’s stock valued at $6,277,000 after buying an additional 1,000 shares during the last quarter. WESPAC Advisors LLC raised its holdings in shares of Equinix by 58.6% in the third quarter. WESPAC Advisors LLC now owns 7,586 shares of the financial services provider’s stock valued at $3,284,000 after buying an additional 2,803 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Equinix by 1.2% in the third quarter. Wells Fargo & Company MN now owns 431,556 shares of the financial services provider’s stock valued at $186,816,000 after buying an additional 5,209 shares during the last quarter. Beaumont Financial Partners LLC bought a new position in shares of Equinix in the third quarter valued at about $240,000. Finally, Copeland Capital Management LLC raised its holdings in shares of Equinix by 0.6% in the third quarter. Copeland Capital Management LLC now owns 26,525 shares of the financial services provider’s stock valued at $11,483,000 after buying an additional 163 shares during the last quarter. Institutional investors own 99.77% of the company’s stock.
Shares of EQIX stock opened at $384.94 on Monday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.24 and a quick ratio of 1.29. The stock has a market capitalization of $30.95 billion, a PE ratio of 18.86, a P/E/G ratio of 1.29 and a beta of 0.74. Equinix Inc has a one year low of $370.79 and a one year high of $485.92.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 14th will be paid a $2.28 dividend. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $9.12 dividend on an annualized basis and a dividend yield of 2.37%. Equinix’s dividend payout ratio (DPR) is presently 49.22%.
Several brokerages have weighed in on EQIX. BidaskClub cut Equinix from a “hold” rating to a “sell” rating in a report on Thursday, August 23rd. ValuEngine cut Equinix from a “hold” rating to a “sell” rating in a report on Thursday, August 23rd. Credit Suisse Group set a $520.00 price objective on Equinix and gave the stock a “buy” rating in a report on Thursday, August 9th. BMO Capital Markets began coverage on Equinix in a report on Tuesday, July 17th. They set an “outperform” rating and a $526.00 price objective for the company. Finally, Zacks Investment Research cut Equinix from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $501.28.
In other news, insider Michael Earl Campbell sold 1,316 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $423.38, for a total value of $557,168.08. Following the completion of the sale, the insider now directly owns 3,954 shares of the company’s stock, valued at approximately $1,674,044.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 2,000 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $431.65, for a total value of $863,300.00. Following the completion of the sale, the chief financial officer now directly owns 21,141 shares of the company’s stock, valued at $9,125,512.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,566 shares of company stock valued at $1,528,778. 0.51% of the stock is currently owned by company insiders.
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Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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