Equinix, Inc. (NASDAQ:EQIX) Stock Holdings Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,690 shares of the financial services provider’s stock after acquiring an additional 522 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Equinix were worth $12,908,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Principal Financial Group Inc. increased its stake in Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. Assetmark Inc. lifted its stake in Equinix by 6.2% during the third quarter. Assetmark Inc. now owns 4,813 shares of the financial services provider’s stock valued at $4,272,000 after buying an additional 279 shares in the last quarter. Atria Investments Inc boosted its holdings in shares of Equinix by 14.0% in the third quarter. Atria Investments Inc now owns 8,495 shares of the financial services provider’s stock worth $7,541,000 after buying an additional 1,042 shares during the period. Mesirow Financial Investment Management Inc. increased its position in shares of Equinix by 4.4% in the third quarter. Mesirow Financial Investment Management Inc. now owns 494 shares of the financial services provider’s stock worth $439,000 after acquiring an additional 21 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Equinix during the third quarter valued at approximately $121,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Trading Up 0.7 %

Shares of NASDAQ:EQIX opened at $836.24 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $81.39 billion, a PE ratio of 97.81, a P/E/G ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The firm has a fifty day moving average price of $918.81 and a 200 day moving average price of $908.19.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.24%. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EQIX shares. Oppenheimer raised their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Scotiabank raised their target price on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Wells Fargo & Company dropped their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Truist Financial decreased their price objective on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research report on Monday. Finally, Royal Bank of Canada upped their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $989.35.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the transaction, the director now owns 17,669 shares in the company, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Charles J. Meyers sold 5,788 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the sale, the chairman now owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by insiders.

Equinix Company 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.