Meiji Yasuda Asset Management Co Ltd. Reduces Stake in Equinix, Inc. (NASDAQ:EQIX)

Meiji Yasuda Asset Management Co Ltd. lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,293 shares of the financial services provider’s stock after selling 23 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Equinix were worth $1,735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of EQIX. Vanguard Group Inc. lifted its holdings in Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after acquiring an additional 238,815 shares during the last quarter. Cohen & Steers Inc. lifted its stake in shares of Equinix by 0.5% in the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock valued at $2,087,096,000 after purchasing an additional 13,988 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Equinix by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after purchasing an additional 47,795 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after purchasing an additional 19,844 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $870.99 on Friday. The firm has a market cap of $82.66 billion, a P/E ratio of 87.36, a P/E/G ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93. The business’s 50-day moving average price is $818.98 and its 200 day moving average price is $793.53. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last released 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). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business posted $8.04 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Royal Bank of Canada dropped their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Mizuho upped their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, Barclays raised their price target on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $883.71.

Insider Activity

In related news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock valued at $8,282,119 in the last three months. 0.27% of the stock is currently owned by company 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.