Canada Pension Plan Investment Board Acquires Shares of 1,116,340 Equinix, Inc. $EQIX

Key Points

• Canada Pension Plan Investment Board acquired 1,116,340 Equinix shares worth approximately $1.16 billion, giving it about a 1.13% stake and making Equinix its 29th-largest portfolio holding.
• Equinix reported quarterly revenue of $2.62 billion, up 16.4% year over year, and adjusted earnings of $11.78 per share, significantly exceeding analysts’ $4.73 estimate.
• The company declared a quarterly dividend of $5.16, or $20.64 annualized, representing a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,203.40.

Canada Pension Plan Investment Board acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,116,340 shares of the financial services provider's stock, valued at approximately $1,163,662,000. Equinix accounts for approximately 0.6% of Canada Pension Plan Investment Board's portfolio, making the stock its 29th largest position. Canada Pension Plan Investment Board owned approximately 1.13% of Equinix at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of EQIX. Elevation Wealth Partners LLC raised its holdings in shares of Equinix by 166.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider's stock worth $25,000 after buying an additional 15 shares in the last quarter. Avion Wealth lifted its stake in Equinix by 73.3% in the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 11 shares during the last quarter. Physician Wealth Advisors Inc. lifted its stake in Equinix by 266.7% in the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 24 shares during the last quarter. Trust Co. of Vermont acquired a new stake in Equinix in the second quarter valued at approximately $34,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Equinix during the fourth quarter worth $30,000. Institutional investors own 94.94% of the company's stock.

Equinix Trading Up 1.7%

EQIX opened at $1,073.44 on Wednesday. Equinix, Inc. has a 1-year low of $720.62 and a 1-year high of $1,128.68. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44. The company has a market cap of $105.92 billion, a P/E ratio of 69.12, a price-to-earnings-growth ratio of 1.50 and a beta of 0.99. The company has a fifty day moving average price of $1,052.05 and a two-hundred day moving average price of $1,027.67.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share for the quarter, topping analysts' consensus estimates of $4.73 by $7.05. Equinix had a return on equity of 10.76% and a net margin of 15.64%.The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the prior year, the business earned $9.91 EPS. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. Analysts predict that Equinix, Inc. will post 38.23 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be given a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix's dividend payout ratio (DPR) is presently 132.90%.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the completion of the transaction, the insider owned 6,132 shares in the company, valued at approximately $6,600,239.52. The trade was a 37.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 4,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,019.28, for a total value of $4,077,120.00. Following the completion of the sale, the director directly owned 13,859 shares of the company's stock, valued at approximately $14,126,201.52. This trade represents a 22.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 7,986 shares of company stock worth $8,370,777. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

EQIX has been the topic of a number of recent research reports. Raymond James Financial raised Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 price target on the stock in a research note on Thursday, April 30th. HSBC reiterated a "buy" rating and issued a $1,400.00 price objective on shares of Equinix in a report on Friday, August 14th. Oppenheimer restated an "outperform" rating and issued a $1,200.00 price target on shares of Equinix in a research report on Thursday, April 30th. Guggenheim reaffirmed a "buy" rating and set a $1,235.00 price target on shares of Equinix in a research note on Wednesday, May 20th. Finally, BTIG Research began coverage on shares of Equinix in a report on Friday, July 10th. They set a "buy" rating and a $1,210.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,203.40.

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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