US Bancorp DE Raises Stake in Equinix, Inc. (NASDAQ:EQIX)

US Bancorp DE raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 21.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,004 shares of the financial services provider’s stock after buying an additional 9,135 shares during the period. US Bancorp DE owned about 0.05% of Equinix worth $49,035,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Kestra Investment Management LLC acquired a new position in shares of Equinix during the 4th quarter valued at $31,000. Sierra Ocean LLC purchased a new position in Equinix in the fourth quarter valued at about $42,000. Dunhill Financial LLC lifted its stake in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares in the last quarter. Thompson Investment Management Inc. purchased a new stake in shares of Equinix in the fourth quarter worth about $47,000. Finally, Key Financial Inc grew its stake in shares of Equinix by 30.4% in the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider’s stock valued at $57,000 after buying an additional 14 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Performance

Equinix stock opened at $904.62 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a fifty day moving average price of $928.20 and a two-hundred day moving average price of $905.23. The company has a market cap of $88.05 billion, a PE ratio of 105.80, a P/E/G ratio of 1.78 and a beta of 0.72.

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

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.07%. Equinix’s dividend payout ratio (DPR) is 219.42%.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several recent research reports. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their target price on shares of 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. Scotiabank lowered their price target on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. Finally, Truist Financial raised their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $994.82.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the transaction, the insider now owns 1,015 shares of the company’s stock, valued at approximately $976,633. This trade represents a 17.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,741 shares of company stock worth $21,988,532 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Equinix 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.