CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Buys 3,000 Shares of Equinix, Inc. $EQIX

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 75.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,000 shares of the financial services provider’s stock after buying an additional 3,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Equinix were worth $5,483,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC lifted its stake in shares of Equinix by 4.8% in the 2nd quarter. Quent Capital LLC now owns 286 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 13 shares during the period. Whittier Trust Co. raised its holdings in Equinix by 1.3% in the second quarter. Whittier Trust Co. now owns 1,040 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 13 shares in the last quarter. CVA Family Office LLC lifted its position in Equinix by 10.9% during the second quarter. CVA Family Office LLC now owns 132 shares of the financial services provider’s stock valued at $105,000 after buying an additional 13 shares during the period. Flputnam Investment Management Co. lifted its position in Equinix by 1.0% during the third quarter. Flputnam Investment Management Co. now owns 1,295 shares of the financial services provider’s stock valued at $1,014,000 after buying an additional 13 shares during the period. Finally, Bank of Jackson Hole Trust boosted its holdings in shares of Equinix by 70.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after buying an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, CEO Adaire Fox-Martin sold 2,894 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the sale, the chief executive officer directly owned 12,366 shares of the company’s stock, valued at $9,040,658.94. This trade represents a 18.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan Lin sold 124 shares of Equinix stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $731.18, for a total value of $90,666.32. Following the completion of the sale, the insider owned 8,299 shares of the company’s stock, valued at $6,068,062.82. The trade was a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 8,704 shares of company stock valued at $6,617,748. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Up 0.6%

Shares of NASDAQ EQIX opened at $769.71 on Wednesday. The firm’s 50 day moving average price is $777.45 and its 200-day moving average price is $787.86. The company has a market cap of $75.58 billion, a PE ratio of 70.49, a P/E/G ratio of 1.56 and a beta of 1.05. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $964.73. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, beating the consensus estimate of $9.27 by $0.56. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the firm earned $9.05 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. On average, equities research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were paid a $4.69 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. Equinix’s payout ratio is currently 171.79%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EQIX. The Goldman Sachs Group lowered shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price target for the company. in a research note on Thursday, December 18th. Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Truist Financial lifted their target price on shares of Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. JPMorgan Chase & Co. upped their price target on Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equinix in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $953.90.

Equinix 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.