Truist Financial Corp Acquires 2,417 Shares of Equinix, Inc. $EQIX

Key Points

• Truist Financial Corp has increased its holdings in Equinix, Inc. by 4.6%, now owning 54,718 shares valued at approximately $43.5 million.
• Equinix announced a quarterly dividend of $4.69, with an annualized yield of 2.4% despite a high dividend payout ratio of 183.74%.
• Equinix's recent quarterly earnings report showed a significant earnings per share (EPS) of $9.91, exceeding analyst estimates by $6.42.

Truist Financial Corp increased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,718 shares of the financial services provider's stock after purchasing an additional 2,417 shares during the period. Truist Financial Corp owned approximately 0.06% of Equinix worth $43,526,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider's stock worth $10,523,576,000 after purchasing an additional 242,121 shares during the last quarter. JPMorgan Chase & Co. increased its position in Equinix by 22.5% in the first quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider's stock worth $1,296,871,000 after purchasing an additional 291,753 shares during the last quarter. Northern Trust Corp increased its position in Equinix by 2.7% in the first quarter. Northern Trust Corp now owns 1,524,515 shares of the financial services provider's stock worth $1,243,013,000 after purchasing an additional 40,734 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Equinix by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,333,635 shares of the financial services provider's stock worth $1,087,334,000 after buying an additional 25,290 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Equinix by 8.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,243,446 shares of the financial services provider's stock worth $1,013,844,000 after buying an additional 95,887 shares during the period. Institutional investors own 94.94% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on EQIX. Wells Fargo & Company dropped their price objective on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Dbs Bank raised shares of Equinix to a "moderate buy" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group dropped their price objective on shares of Equinix from $1,020.00 to $880.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. Wall Street Zen lowered shares of Equinix from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Equinix from $935.00 to $940.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Five analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $962.52.

Equinix Stock Down 0.2%

NASDAQ:EQIX opened at $772.60 on Friday. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The company has a 50-day moving average of $782.63 and a 200 day moving average of $814.92. The firm has a market cap of $75.61 billion, a PE ratio of 75.67, a price-to-earnings-growth ratio of 1.38 and a beta of 0.92. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $2.26 billion. During the same period in the prior year, the firm earned $9.22 earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. Equinix has set its Q3 2025 guidance at EPS. FY 2025 guidance at 37.670-38.480 EPS. As a group, research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. Equinix's dividend payout ratio is 183.74%.

Insider Transactions at Equinix

In other Equinix news, EVP Raouf Abdel sold 404 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $771.11, for a total value of $311,528.44. Following the completion of the transaction, the executive vice president directly owned 6,378 shares in the company, valued at approximately $4,918,139.58. The trade was a 5.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $58,612.50. Following the completion of the transaction, the director owned 17,832 shares of the company's stock, valued at $13,935,708. This represents a 0.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

Equinix 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.

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