Federated Hermes Inc. Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Federated Hermes Inc. lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 0.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,954 shares of the financial services provider’s stock after purchasing an additional 49 shares during the period. Federated Hermes Inc.’s holdings in Equinix were worth $9,044,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EQIX. Public Employees Retirement System of Ohio increased its stake in shares of Equinix by 0.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock worth $147,131,000 after acquiring an additional 1,159 shares during the period. Pinebridge Investments L.P. acquired a new stake in shares of Equinix in the fourth quarter worth $3,724,000. Global Assets Advisory LLC acquired a new stake in shares of Equinix in the first quarter worth $15,187,000. Schroder Investment Management Group increased its stake in shares of Equinix by 0.6% in the fourth quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after acquiring an additional 1,547 shares during the period. Finally, Banque Cantonale Vaudoise increased its stake in shares of Equinix by 48.0% in the first quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock worth $5,430,000 after acquiring an additional 2,133 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 1.4 %

Equinix stock opened at $864.33 on Wednesday. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The stock’s fifty day simple moving average is $815.81 and its 200-day simple moving average is $792.51. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $82.03 billion, a P/E ratio of 86.69, a P/E/G ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $8.04 EPS. As a group, equities analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.97%. Equinix’s dividend payout ratio is presently 170.91%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. Mizuho lifted their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, TD Cowen lifted their price target on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $883.71.

Insider Buying and Selling at Equinix

In other news, insider Meredith Williamson sold 576 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Simon Miller sold 569 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock worth $8,282,119 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.