Equinix, Inc. $EQIX Stock Position Increased by Vanguard Group Inc.

Key Points

• Vanguard increased its Equinix stake by 0.8% in Q4, buying 107,227 shares to hold 13,398,906 shares (about 13.65% of the company) valued at roughly $10.27 billion.
• Equinix missed earnings and revenue estimates for the quarter, reporting $8.91 EPS versus $9.07 expected and $2.42 billion in revenue versus $2.46 billion expected, though revenue was up 7% year-over-year.
• Equinix raised its quarterly dividend to $5.16 (annualized $20.64) for a ~1.9% yield, but the dividend payout ratio is high at about 150%.

Vanguard Group Inc. boosted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,398,906 shares of the financial services provider's stock after purchasing an additional 107,227 shares during the quarter. Vanguard Group Inc. owned about 13.65% of Equinix worth $10,265,706,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Equinix by 25.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider's stock valued at $2,252,094,000 after purchasing an additional 588,967 shares during the last quarter. Principal Financial Group Inc. lifted its position in Equinix by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider's stock valued at $1,542,595,000 after purchasing an additional 56,592 shares during the last quarter. APG Asset Management US Inc. lifted its position in Equinix by 0.4% in the 3rd quarter. APG Asset Management US Inc. now owns 1,211,357 shares of the financial services provider's stock valued at $937,530,000 after purchasing an additional 5,109 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Equinix by 408.1% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider's stock valued at $929,312,000 after purchasing an additional 953,001 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Equinix by 17.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 815,744 shares of the financial services provider's stock valued at $638,916,000 after purchasing an additional 119,988 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Performance

Shares of EQIX opened at $1,108.74 on Friday. Equinix, Inc. has a one year low of $710.52 and a one year high of $1,128.68. The company has a 50-day moving average of $993.19 and a two-hundred day moving average of $863.48. The stock has a market cap of $109.35 billion, a price-to-earnings ratio of 80.64, a PEG ratio of 2.84 and a beta of 1.01. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the business earned $7.92 earnings per share. The business's quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that Equinix, Inc. will post 37.72 earnings per share for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were issued a $5.16 dividend. The ex-dividend date was Wednesday, February 25th. This is a positive change from Equinix's previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix's dividend payout ratio is 150.11%.

Analyst Ratings Changes

EQIX has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of Equinix in a research note on Thursday, April 9th. They set an "overweight" rating and a $1,173.00 target price on the stock. Sanford C. Bernstein initiated coverage on shares of Equinix in a research note on Thursday, March 5th. They set an "outperform" rating and a $1,128.00 target price on the stock. Citigroup raised their target price on shares of Equinix from $1,070.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Wall Street Zen cut shares of Equinix from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. Finally, Wells Fargo & Company raised their target price on shares of Equinix from $975.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Tuesday. Five equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Equinix has a consensus rating of "Moderate Buy" and an average price target of $1,056.35.

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 2,716 shares of the firm's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $965.15, for a total value of $2,621,347.40. Following the completion of the transaction, the chairman directly owned 12,594 shares in the company, valued at $12,155,099.10. This trade represents a 17.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Raouf Abdel sold 584 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $965.69, for a total transaction of $563,962.96. Following the completion of the transaction, the executive vice president owned 7,768 shares of the company's stock, valued at approximately $7,501,479.92. The trade was a 6.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 6,380 shares of company stock valued at $6,179,022. Company insiders own 0.27% of the company's stock.

About Equinix

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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