PNC Financial Services Group Inc. raised its stake in Equinix, Inc. (NASDAQ:EQIX – Free Report) by 14.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 14,988 shares of the financial services provider’s stock after buying an additional 1,890 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Equinix were worth $14,692,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of EQIX. Avion Wealth grew its holdings in shares of Equinix by 73.3% in the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 11 shares during the period. Kemnay Advisory Services Inc. purchased a new position in Equinix in the 4th quarter valued at approximately $30,000. Princeton Global Asset Management LLC raised its holdings in Equinix by 200.0% during the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 28 shares during the last quarter. Physician Wealth Advisors Inc. raised its holdings in Equinix by 266.7% during the first quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 24 shares during the last quarter. Finally, WPG Advisers LLC boosted its position in Equinix by 51.7% during the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 15 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have weighed in on the company. Wall Street Zen raised Equinix from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded Equinix from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Guggenheim reiterated a “buy” rating and issued a $1,235.00 price objective on shares of Equinix in a research report on Wednesday, May 20th. Evercore reissued an “outperform” rating and issued a $1,240.00 price objective on shares of Equinix in a research note on Tuesday, April 28th. Finally, Wells Fargo & Company raised their target price on shares of Equinix from $975.00 to $1,200.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $1,153.79.
Equinix Price Performance
Shares of NASDAQ:EQIX opened at $1,084.24 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18. The business’s fifty day moving average price is $1,056.85 and its two-hundred day moving average price is $986.34. The stock has a market cap of $106.93 billion, a PE ratio of 75.03, a price-to-earnings-growth ratio of 2.01 and a beta of 0.98. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68.
Equinix (NASDAQ:EQIX – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, topping analysts’ consensus estimates of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm posted $9.67 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, analysts forecast that Equinix, Inc. will post 38.25 EPS for the current fiscal year.
Equinix Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were given a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Wednesday, May 20th. Equinix’s dividend payout ratio (DPR) is currently 142.84%.
Insider Activity
In other Equinix news, EVP Raouf Abdel sold 2,040 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the transaction, the executive vice president directly owned 5,728 shares in the company, valued at approximately $6,206,116.16. This represents a 26.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles J. Meyers sold 5,224 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the sale, the chairman directly owned 7,370 shares in the company, valued at $7,998,145.10. This represents a 41.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 11,115 shares of company stock worth $12,022,574. Company insiders own 0.27% of the company’s stock.
About Equinix
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.
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