The Manufacturers Life Insurance Company Buys 2,480 Shares of Equinix, Inc. $EQIX

Key Points

• The Manufacturers Life Insurance Company increased its stake in Equinix, Inc. by 4.0%, holding a total of 65,155 shares valued at approximately $53.1 million as of its recent SEC filing.
• CEO Adaire Fox-Martin sold 2,949 shares for nearly $2.6 million, resulting in a 23.47% decrease in ownership, while other institutional investors are also actively adjusting their positions.
• Equinix reported an earnings per share of $9.91 for the last quarter, significantly exceeding expectations, alongside a dividend announcement of $4.69 per share payable on September 17th.

The Manufacturers Life Insurance Company grew its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,155 shares of the financial services provider's stock after acquiring an additional 2,480 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Equinix worth $53,124,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new position in shares of Equinix in the fourth quarter valued at about $28,000. GKV Capital Management Co. Inc. bought a new stake in shares of Equinix in the first quarter valued at about $30,000. Whipplewood Advisors LLC boosted its position in shares of Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 23 shares during the period. Cornerstone Planning Group LLC boosted its position in shares of Equinix by 40.0% in the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 12 shares during the period. Finally, Pacific Center for Financial Services boosted its position in shares of Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 15 shares during the period. Institutional investors own 94.94% of the company's stock.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 75 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $781.50, for a total value of $58,612.50. Following the sale, the director directly owned 17,832 shares in the company, valued at approximately $13,935,708. The trade was a 0.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price target on Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Cowen reaffirmed a "buy" rating on shares of Equinix in a research report on Thursday, July 3rd. Guggenheim assumed coverage on shares of Equinix in a research report on Thursday, July 10th. They set a "buy" rating and a $933.00 price objective for the company. JMP Securities reaffirmed a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research report on Tuesday, July 22nd. Finally, BMO Capital Markets cut shares of Equinix from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $1,045.00 to $850.00 in a research report on Thursday, June 26th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Equinix currently has an average rating of "Buy" and a consensus price target of $962.52.

Equinix Stock Up 0.6%

Shares of EQIX stock traded up $4.85 on Thursday, reaching $767.07. 229,479 shares of the company were exchanged, compared to its average volume of 610,484. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. The company has a 50-day moving average of $780.14 and a 200-day moving average of $830.59. The company has a market cap of $75.07 billion, a price-to-earnings ratio of 75.06, a PEG ratio of 1.40 and a beta of 0.92. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, topping 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 company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm posted $9.22 earnings per share. The firm'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. Analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

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

Equinix Company 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.