Cardinal Capital Management Inc. Cuts Stock Holdings in Equinix, Inc. $EQIX

Key Points

• Cardinal Capital Management Inc. has reduced its stake in Equinix, Inc. by 5.5%, now holding 16,193 shares valued at approximately $12.88 million as of its latest SEC filing.
• Equinix recently reported a strong quarterly earnings performance, with $9.91 EPS, exceeding consensus estimates significantly, alongside a revenue of $2.26 billion.
• The company announced a quarterly dividend of $4.69 per share, reflecting an annualized dividend of $18.76 and a payout ratio of 183.74%.

Cardinal Capital Management Inc. trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,193 shares of the financial services provider's stock after selling 937 shares during the quarter. Cardinal Capital Management Inc.'s holdings in Equinix were worth $12,881,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in Equinix by 82,340.9% during the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock worth $725,957,000 after buying an additional 889,282 shares in the last quarter. Nuveen LLC bought a new position in shares of Equinix in the first quarter worth about $662,663,000. JPMorgan Chase & Co. boosted 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 valued at $1,296,871,000 after buying an additional 291,753 shares in the last quarter. National Bank of Canada FI boosted its position in Equinix by 169.7% in the first quarter. National Bank of Canada FI now owns 394,223 shares of the financial services provider's stock valued at $321,427,000 after buying an additional 248,075 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider's stock valued at $10,523,576,000 after buying an additional 242,121 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Up 0.9%

EQIX traded up $6.82 during trading on Monday, hitting $798.07. 513,589 shares of the company's stock were exchanged, compared to its average volume of 603,776. The stock has a market cap of $78.10 billion, a P/E ratio of 78.17, a PEG ratio of 1.41 and a beta of 0.92. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The business's 50 day moving average is $781.41 and its two-hundred day moving average is $818.17.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, beating the consensus estimate 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 last year, the business posted $9.22 EPS. The company's revenue for the quarter was up 4.5% on a year-over-year basis. Equinix has set its Q3 2025 guidance at EPS. FY 2025 guidance at 37.670-38.480 EPS. As a group, equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

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

Insider Buying and Selling

In related news, EVP Raouf Abdel sold 404 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $771.11, for a total value of $311,528.44. Following the sale, the executive vice president owned 6,378 shares in the company, valued at approximately $4,918,139.58. This trade represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 75 shares of Equinix stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $781.50, for a total value of $58,612.50. Following the sale, the director owned 17,832 shares of the company's stock, valued at approximately $13,935,708. This trade represents a 0.42% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Equinix from $935.00 to $940.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Truist Financial upped their price objective on Equinix from $904.00 to $961.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Guggenheim initiated coverage on Equinix in a research note on Thursday, July 10th. They issued a "buy" rating and a $933.00 price objective for the company. Scotiabank dropped their price target on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a research note on Thursday, June 26th. Finally, Stifel Nicolaus dropped their price target on shares of Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Equinix presently has an average rating of "Buy" and an average target price of $962.52.

Equinix 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.