Public Employees Retirement System of Ohio Has $148.90 Million Holdings in Equinix, Inc. $EQIX

Key Points

• Public Employees Retirement System of Ohio reduced its stake in Equinix by 12.4% in the first quarter, selling 21,455 shares and leaving it with 151,901 shares valued at about $148.9 million.
• Equinix reported a strong quarterly EPS beat, posting $10.79 per share versus expectations of $4.30, though revenue came in slightly below estimates at $2.44 billion.
• Analyst sentiment remains broadly positive, with a consensus rating of Moderate Buy and an average price target of $1,153.79, even as some firms recently downgraded or adjusted ratings.

Public Employees Retirement System of Ohio cut its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 12.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,901 shares of the financial services provider's stock after selling 21,455 shares during the quarter. Equinix comprises approximately 0.5% of Public Employees Retirement System of Ohio's holdings, making the stock its 29th biggest position. Public Employees Retirement System of Ohio owned approximately 0.15% of Equinix worth $148,899,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Avion Wealth grew its position in shares of 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 acquiring an additional 11 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Equinix during the 4th quarter worth about $30,000. Princeton Global Asset Management LLC raised its holdings in shares of 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 period. Physician Wealth Advisors Inc. raised its holdings in shares of 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 period. Finally, WPG Advisers LLC lifted its stake 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. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EQIX has been the subject of a number of research analyst reports. Zacks Research cut Equinix from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Wall Street Zen upgraded Equinix from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Guggenheim reaffirmed a "buy" rating and issued a $1,235.00 price objective on shares of Equinix in a research report on Wednesday, May 20th. HSBC lifted their target price on Equinix from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Finally, The Goldman Sachs Group boosted their target price on Equinix from $894.00 to $1,015.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,153.79.

Equinix Stock Up 0.5%

EQIX stock opened at $1,033.55 on Friday. Equinix, Inc. has a fifty-two week low of $720.62 and a fifty-two week high of $1,128.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $101.93 billion, a price-to-earnings ratio of 71.53, a PEG ratio of 1.91 and a beta of 0.98. The business's fifty day moving average price is $1,056.35 and its two-hundred day moving average price is $985.65.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the business posted $9.67 earnings per share. Equinix's quarterly revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, equities analysts anticipate that Equinix, Inc. will post 38.25 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were issued a $5.16 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. Equinix's payout ratio is currently 142.84%.

Insider Buying and Selling at Equinix

In other Equinix news, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the transaction, the executive vice president owned 5,728 shares in the company, valued at $6,206,116.16. This represents a 26.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Charles J. Meyers sold 5,224 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the transaction, the chairman directly owned 7,370 shares in the company, valued at $7,998,145.10. This represents a 41.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 11,115 shares of company stock worth $12,022,574. 0.27% of the stock is currently owned by company insiders.

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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