Benjamin Edwards Inc. Has $29.66 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Benjamin Edwards Inc. increased its stake in Equinix, Inc. by 18.9%, acquiring an additional 5,776 shares, bringing its total holdings to 36,378 shares valued at $29.66 million.
• Equinix reported strong earnings with $9.91 EPS, surpassing analysts' expectations, and its revenue for the quarter was $2.26 billion, marking a 4.5% increase year-over-year.
• The company announced a quarterly dividend of $4.69 per share, resulting in an annualized dividend of $18.76 and a yield of 2.4%.

Benjamin Edwards Inc. grew its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 18.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 36,378 shares of the financial services provider's stock after purchasing an additional 5,776 shares during the quarter. Benjamin Edwards Inc.'s holdings in Equinix were worth $29,662,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider's stock valued at $10,523,576,000 after acquiring an additional 242,121 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Equinix by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock worth $1,793,429,000 after buying an additional 14,294 shares in the last quarter. JPMorgan Chase & Co. grew its position in Equinix by 22.5% in the first quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider's stock worth $1,296,871,000 after buying an additional 291,753 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Equinix by 65.3% in the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock valued at $1,399,042,000 after buying an additional 586,034 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Equinix by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,147,559 shares of the financial services provider's stock valued at $1,082,022,000 after acquiring an additional 65,104 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on EQIX shares. BNP Paribas upgraded Equinix to a "strong-buy" rating in a report on Thursday, May 1st. UBS Group reduced their price objective on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Scotiabank dropped their target price on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 26th. TD Securities raised their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Wolfe Research lowered Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, Equinix presently has a consensus rating of "Buy" and an average target price of $959.86.

Insider Activity

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer directly owned 9,615 shares of the company's stock, valued at $8,508,409.65. This trade represents a 23.47% 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 hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director directly owned 17,569 shares of the company's stock, valued at $15,274,664.29. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

Equinix Stock Performance

Shares of Equinix stock traded up $10.57 on Tuesday, reaching $787.32. The stock had a trading volume of 337,865 shares, compared to its average volume of 632,083. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.54 and a current ratio of 1.54. The business's 50-day moving average price is $818.70 and its two-hundred day moving average price is $846.57. The stock has a market cap of $77.05 billion, a P/E ratio of 77.11, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the business earned $9.22 EPS. The business's revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, August 20th. Equinix's payout ratio is currently 183.74%.

Equinix Company 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.