Equinix, Inc. $EQIX Position Boosted by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 14.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,000 shares of the financial services provider’s stock after purchasing an additional 5,000 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Equinix were worth $31,330,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in EQIX. Advyzon Investment Management LLC acquired a new position in Equinix in the 3rd quarter valued at approximately $357,000. Sun Life Financial Inc. grew its holdings in shares of Equinix by 19.1% during the 3rd quarter. Sun Life Financial Inc. now owns 13,401 shares of the financial services provider’s stock valued at $10,496,000 after acquiring an additional 2,145 shares in the last quarter. Sava Infond d.o.o. increased its stake in shares of Equinix by 59.0% in the third quarter. Sava Infond d.o.o. now owns 1,078 shares of the financial services provider’s stock worth $844,000 after acquiring an additional 400 shares during the last quarter. Bridgewater Advisors Inc. raised its holdings in shares of Equinix by 16.9% during the third quarter. Bridgewater Advisors Inc. now owns 471 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 68 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Equinix by 71.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 100,791 shares of the financial services provider’s stock worth $78,944,000 after acquiring an additional 41,887 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Up 1.1%

Shares of Equinix stock opened at $928.11 on Friday. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $992.90. The stock has a market capitalization of $91.19 billion, a P/E ratio of 67.50, a PEG ratio of 1.84 and a beta of 1.06. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. The stock has a 50 day moving average price of $811.86 and a two-hundred day moving average price of $794.87.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm posted $7.92 earnings per share. Equinix’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be paid a $5.16 dividend. The ex-dividend date is Wednesday, February 25th. This is a boost from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.2%. Equinix’s dividend payout ratio is presently 136.44%.

Analyst Upgrades and Downgrades

EQIX has been the topic of several research reports. Citigroup reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. Zacks Research downgraded Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Truist Financial raised their price objective on shares of Equinix from $973.00 to $1,087.00 and gave the company a “buy” rating in a research report on Wednesday. HSBC set a $1,050.00 target price on shares of Equinix and gave the stock a “buy” rating in a research report on Thursday, January 15th. Finally, Barclays restated a “positive” rating and set a $870.00 price target on shares of Equinix in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and a consensus price target of $1,001.41.

Insider Buying and Selling at Equinix

In other news, Chairman Charles J. Meyers sold 2,094 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.14, for a total value of $1,683,869.16. Following the completion of the sale, the chairman directly owned 13,253 shares of the company’s stock, valued at approximately $10,657,267.42. This represents a 13.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,894 shares of the firm’s 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 completion of the sale, the chief executive officer owned 12,366 shares in the company, valued at approximately $9,040,658.94. The trade was a 18.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,353 shares of company stock worth $11,283,043 in the last ninety days. 0.27% of the stock is owned by 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.