US Bancorp DE Has $43.91 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• US Bancorp DE increased its holdings in Equinix, Inc. by 3.6%, owning 53,858 shares valued at approximately $43.9 million as of the latest SEC filing.
• Equinix reported a $9.91 EPS for the last quarter, significantly exceeding analysts’ expectations and showing a year-over-year revenue increase of 4.5%.
• The company announced a quarterly dividend of $4.69 per share, with a dividend yield of 2.4%, reflecting a payout ratio of 195.01%.

US Bancorp DE increased its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,858 shares of the financial services provider's stock after purchasing an additional 1,854 shares during the period. US Bancorp DE owned 0.06% of Equinix worth $43,914,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Truist Financial Corp boosted its holdings in shares of Equinix by 8.2% during the first quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider's stock valued at $42,643,000 after acquiring an additional 3,981 shares during the period. Nisa Investment Advisors LLC lifted its position in Equinix by 71.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider's stock valued at $60,690,000 after purchasing an additional 31,073 shares during the last quarter. First United Bank & Trust bought a new stake in Equinix in the 1st quarter valued at about $451,000. Miller Howard Investments Inc. NY boosted its stake in Equinix by 20.1% during the 1st quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider's stock valued at $3,150,000 after purchasing an additional 646 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in Equinix by 113.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 17,954 shares of the financial services provider's stock worth $14,639,000 after purchasing an additional 9,534 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Price Performance

EQIX stock traded down $13.42 on Friday, hitting $771.75. 500,622 shares of the company's stock traded hands, compared to its average volume of 590,650. The stock has a market cap of $75.52 billion, a price-to-earnings ratio of 75.59, a P/E/G ratio of 1.25 and a beta of 0.90. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. The stock has a fifty day moving average of $831.20 and a 200-day moving average of $852.93.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $6.42. The company had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The firm's revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.22 earnings per share. On average, analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

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 $4.69 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. Equinix's dividend payout ratio (DPR) is 183.74%.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer directly owned 9,615 shares of the company's stock, valued at $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the sale, the insider owned 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock worth $2,808,008 in the last quarter. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

EQIX has been the topic of a number of recent analyst reports. UBS Group cut their price target on Equinix from $1,035.00 to $950.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Cfra Research cut Equinix from a "moderate buy" rating to a "hold" rating in a research report on Thursday. New Street Research raised Equinix to a "strong-buy" rating in a research note on Monday, April 28th. TD Securities boosted their price target on Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Guggenheim began coverage on Equinix in a report on Thursday, July 10th. They set a "buy" rating and a $933.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twenty have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $957.27.

About Equinix

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.