Equinix, Inc. $EQIX is PGGM Investments' 3rd Largest Position

Key Points

• PGGM Investments trimmed its Equinix stake by 1.8% in the fourth quarter, but Equinix remains its 3rd largest holding and makes up about 4.4% of the portfolio.
• Equinix reported strong quarterly earnings, with EPS of $10.79 easily beating estimates, while revenue rose 9.8% year over year to $2.44 billion.
• The company announced a quarterly dividend of $5.16 per share, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $1,143.60.

PGGM Investments lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 365,234 shares of the financial services provider's stock after selling 6,798 shares during the quarter. Equinix accounts for about 4.4% of PGGM Investments' holdings, making the stock its 3rd biggest holding. PGGM Investments owned approximately 0.37% of Equinix worth $279,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of EQIX. Ameriflex Group Inc. increased its holdings in Equinix by 433.3% in the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 26 shares during the last quarter. Princeton Global Asset Management LLC increased its holdings in Equinix by 200.0% in the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 28 shares during the last quarter. WPG Advisers LLC increased its holdings in Equinix by 51.7% in the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 15 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in Equinix by 40.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 13 shares during the last quarter. Finally, Activest Wealth Management increased its holdings in Equinix by 81.5% in the 4th quarter. Activest Wealth Management now owns 49 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Charles J. Meyers sold 5,224 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the sale, the chairman directly owned 7,370 shares in the company, valued at $7,998,145.10. The trade was a 41.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 125 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the completion of the sale, the director owned 17,557 shares in the company, valued at $18,615,511.53. This represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 11,729 shares of company stock worth $11,980,800. 0.27% of the stock is owned by company insiders.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $1,079.79 on Tuesday. The firm has a market capitalization of $106.49 billion, a P/E ratio of 74.73, a PEG ratio of 2.03 and a beta of 1.01. Equinix, Inc. has a one year low of $710.52 and a one year high of $1,128.68. The company's fifty day moving average is $1,039.99 and its two-hundred day moving average is $897.81. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18.

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

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be paid a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, May 20th. Equinix's payout ratio is 142.84%.

Wall Street Analyst Weigh In

EQIX has been the topic of several research reports. Scotiabank increased their price target on shares of Equinix from $1,050.00 to $1,120.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 30th. Oppenheimer reiterated an "outperform" rating and issued a $1,200.00 price target on shares of Equinix in a research note on Thursday, April 30th. Zacks Research cut shares of Equinix from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Weiss Ratings upgraded shares of Equinix from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, May 7th. Finally, Barclays raised their target price on shares of Equinix from $1,020.00 to $1,109.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,143.60.

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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