Fisher Funds Management LTD Invests $31.38 Million in Equinix, Inc. (NASDAQ:EQIX)

Fisher Funds Management LTD has recently made a notable investment in Equinix, Inc. (NASDAQ: EQIX) during the fourth quarter of the fiscal year. According to their latest Form 13F filing with the Securities and Exchange Commission, they acquired a substantial stake in the company. Specifically, Fisher Funds Management purchased 33,366 shares of Equinix for an estimated total value of approximately $31,380,000.

Institutional Investment Trends

Additionally, other institutional investors have also adjusted their stakes in Equinix. For instance, Van ECK Associates Corp increased its ownership by 9.2% during the third quarter, now holding 20,309 shares valued at about $18,099,000 after acquiring 1,716 more shares. Another significant player, Brookfield Corp ON, raised its holdings by an impressive 67.3% during the same quarter, owning a total of 80,760 shares worth $71,685,000 after buying an extra 32,481 shares. Likewise, Empowered Funds LLC boosted its position in the fourth quarter by 19.2%, bringing their total to 2,504 shares valued at $2,361,000 after purchasing an additional 404 shares. Thematics Asset Management also increased its stake by 17.7% in the previous quarter, now holding 39,951 shares valued at $35,462,000 following an acquisition of 6,000 shares. Nordea Investment Management AB experienced a substantial 46.1% increase in its holdings during the fourth quarter, now owning 294,696 shares worth around $278,712,000 after adding 92,975 shares to its portfolio. Overall, institutional investors currently own approximately 94.94% of Equinix’s stock.

Equinix Stock Performance

As of the last trade, Equinix's stock opened at $919.68. The firm maintains a quick ratio of 1.63, a current ratio of 1.63, and a debt-to-equity ratio of 1.19. The company currently has a market capitalization of $89.51 billion, with a price-to-earnings ratio of 107.56 and a price-to-earnings-growth ratio of 1.78. The stock has demonstrated a relatively stable performance, with a 12-month low of $684.14 and a 12-month high of $994.03.

Recent Financial Results

Equinix released its most recent earnings results on February 12, reporting earnings per share (EPS) of $7.92, significantly exceeding analysts’ expectations of $2.75 by $5.17. The company also recorded a return on equity of 6.31% and a net margin of 9.32%. Analysts forecast that Equinix is expected to post 33.1 EPS for the current fiscal year, indicating positive growth prospects.

Increment in Dividend Payments

The company recently announced an increase in its quarterly dividend, set to be paid on March 19. Shareholders who are recorded as of February 26 will receive a dividend of $4.69 per share, a rise from the previous dividend of $4.26. This increase translates to an annualized dividend of $18.76, resulting in a dividend yield of 2.04%. It’s important to note that Equinix’s current dividend payout ratio stands at 219.42%, indicating a significant commitment to returning value to shareholders.

Shareholder Transactions

In other news, CEO Adaire Fox-Martin recently sold 2,965 shares of the company on December 3 for an average price of $961.62, totaling $2,851,203.30. After this transaction, the CEO holds 3,069 shares valued at approximately $2,951,211.78, reflecting a decrease in ownership of 49.14%. Similarly, insider Kurt Pletcher sold 222 shares on the same date at an average price of $962.20, amassing a total of $213,608.40. Post-transaction, Pletcher now owns 1,015 shares valued at about $976,633, marking a 17.95% decrease in their holdings. Throughout the last quarter, insiders sold 23,741 shares worth a total of $21,988,532, with corporate insiders now owning merely 0.27% of the company's stock.

Analyst Ratings and Future Projections

Equinix has received attention from several equities research analysts. The Royal Bank of Canada increased its price target from $936.00 to $1,025.00 and maintained an “outperform” rating. Citizens JMP upgraded Equinix to a “strong-buy” rating as of January 27. Similarly, Barclays lifted its price target from $810.00 to $822.00 and labeled the stock as “equal weight.” Truist Financial also raised its price target significantly from $935.00 to $1,090.00, giving the company a “buy” rating. Moffett Nathanson upgraded its rating on February 5 from