Northwestern Mutual Wealth Management Co. Makes New Investment in Equinix, Inc. $EQIX

Key Points

• Northwestern Mutual Wealth Management initiated a roughly $2.56 million position in Equinix during the second quarter, while institutional investors collectively own 94.94% of the company.
• Equinix reported strong quarterly results, with revenue rising 16.4% year over year to $2.62 billion and earnings per share of $11.78, well above the $4.73 consensus estimate.
• The company declared a quarterly dividend of $5.16 per share, equivalent to an annualized $20.64 payout and a 2.0% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $1,203.40 versus the reported share price of $1,055.20.

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,451 shares of the financial services provider's stock, valued at approximately $2,555,000.

A number of other hedge funds have also recently made changes to their positions in EQIX. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Equinix by 6.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,265 shares of the financial services provider's stock worth $40,043,000 after acquiring an additional 3,108 shares during the last quarter. Legal & General Group Plc grew its stake in Equinix by 10.5% during the fourth quarter. Legal & General Group Plc now owns 1,235,674 shares of the financial services provider's stock valued at $946,724,000 after acquiring an additional 117,101 shares in the last quarter. Generali Asset Management SPA SGR increased its holdings in Equinix by 17.8% in the 4th quarter. Generali Asset Management SPA SGR now owns 9,772 shares of the financial services provider's stock valued at $7,487,000 after acquiring an additional 1,478 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Equinix by 3.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 180,884 shares of the financial services provider's stock worth $138,586,000 after purchasing an additional 5,991 shares in the last quarter. Finally, Norges Bank purchased a new stake in Equinix in the 4th quarter worth $984,355,000. Institutional investors own 94.94% of the company's stock.

Equinix Price Performance

NASDAQ:EQIX opened at $1,055.20 on Tuesday. The firm has a market capitalization of $104.12 billion, a price-to-earnings ratio of 67.95, a PEG ratio of 1.51 and a beta of 0.99. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day simple moving average of $1,052.48 and a 200-day simple moving average of $1,025.76. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68.

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

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be paid a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. Equinix's payout ratio is currently 132.90%.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 4,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,019.28, for a total value of $4,077,120.00. Following the sale, the director directly owned 13,859 shares of the company's stock, valued at $14,126,201.52. This represents a 22.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 3,726 shares of the firm's 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 sale, the insider directly owned 6,132 shares of the company's stock, valued at approximately $6,600,239.52. The trade was a 37.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,986 shares of company stock valued at $8,370,777. Company insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of research analyst reports. Jefferies Financial Group restated a "buy" rating and set a $1,340.00 price objective on shares of Equinix in a research report on Thursday, July 30th. JPMorgan Chase & Co. increased their price target on Equinix from $1,100.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. UBS Group raised their price target on Equinix from $1,210.00 to $1,265.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Scotiabank reaffirmed a "sector perform" rating and set a $1,208.00 price objective on shares of Equinix in a report on Thursday, July 30th. Finally, Stifel Nicolaus increased their target price on Equinix from $1,250.00 to $1,265.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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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