Bank of New York Mellon Corp Increases Stake in Equinix, Inc. $EQIX

Key Points

• Bank of New York Mellon slightly increased its Equinix stake by 0.5% in the fourth quarter, ending with 594,582 shares worth about $455.5 million.
• Several other institutions also added to their positions, and 94.94% of Equinix’s stock is now owned by hedge funds and other institutional investors.
• Equinix reported better-than-expected quarterly EPS of $10.79, while revenue rose 9.8% year over year; analysts remain constructive with a Moderate Buy consensus and an average target price of $1,143.60.

Bank of New York Mellon Corp raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 594,582 shares of the financial services provider's stock after buying an additional 3,189 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of Equinix worth $455,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. 3Chopt Investment Partners LLC boosted its position in shares of Equinix by 2.8% during the 4th quarter. 3Chopt Investment Partners LLC now owns 771 shares of the financial services provider's stock valued at $591,000 after acquiring an additional 21 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Equinix by 6.2% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 589,231 shares of the financial services provider's stock valued at $451,445,000 after acquiring an additional 34,352 shares during the last quarter. New Mexico Educational Retirement Board boosted its position in shares of Equinix by 2.3% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,532 shares of the financial services provider's stock valued at $3,472,000 after acquiring an additional 100 shares during the last quarter. Reaves W H & Co. Inc. boosted its position in shares of Equinix by 6.5% during the 4th quarter. Reaves W H & Co. Inc. now owns 168,968 shares of the financial services provider's stock valued at $129,457,000 after acquiring an additional 10,342 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Equinix by 3.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 180,884 shares of the financial services provider's stock valued at $138,586,000 after acquiring an additional 5,991 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Equinix

In related news, Chairman Charles J. Meyers sold 5,224 shares of the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the sale, the chairman owned 7,370 shares of the company's stock, valued at $7,998,145.10. This trade represents a 41.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Raouf Abdel sold 2,040 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the sale, the executive vice president directly owned 5,728 shares in the company, valued at approximately $6,206,116.16. The trade was a 26.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,053 shares of company stock valued at $11,569,731 over the last 90 days. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Raymond James Financial upgraded Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 target price for the company in a research report on Thursday, April 30th. Stifel Nicolaus set a $1,075.00 price target on Equinix in a report on Thursday, February 12th. Evercore restated an "outperform" rating and set a $1,240.00 price target on shares of Equinix in a report on Tuesday, April 28th. UBS Group increased their price target on Equinix from $950.00 to $1,010.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Finally, Barclays increased their price target on Equinix from $1,020.00 to $1,109.00 and gave the company an "equal weight" rating in a report on Thursday, April 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Equinix presently has an average rating of "Moderate Buy" and an average price target of $1,143.60.

Equinix Price Performance

EQIX opened at $1,077.00 on Thursday. Equinix, Inc. has a 12-month low of $710.52 and a 12-month high of $1,128.68. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39. The business's fifty day simple moving average is $1,053.57 and its 200-day simple moving average is $910.27. The company has a market capitalization of $106.21 billion, a price-to-earnings ratio of 74.53, a PEG ratio of 2.02 and a beta of 0.99.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company earned $9.67 EPS. The business's revenue was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, equities research analysts anticipate that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be given a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. Equinix's dividend payout ratio (DPR) is presently 142.84%.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix's offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.

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