Legal & General Group Plc Raises Holdings in Equinix, Inc. $EQIX

Legal & General Group Plc lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,235,674 shares of the financial services provider’s stock after acquiring an additional 117,101 shares during the period. Legal & General Group Plc’s holdings in Equinix were worth $946,724,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Paragon Private Wealth Management LLC lifted its stake in shares of Equinix by 2.7% during the 3rd quarter. Paragon Private Wealth Management LLC now owns 495 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 13 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 13 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Equinix by 2.2% during the 4th quarter. IFP Advisors Inc now owns 595 shares of the financial services provider’s stock worth $456,000 after purchasing an additional 13 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of Equinix by 3.7% during the 4th quarter. Crestwood Advisors Group LLC now owns 397 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 14 shares during the last quarter. Finally, Howard Capital Management Inc. lifted its stake in shares of Equinix by 2.3% during the 3rd quarter. Howard Capital Management Inc. now owns 664 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 15 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $1,079.79 on Monday. The business’s 50-day moving average is $1,037.82 and its 200 day moving average is $896.05. Equinix, Inc. has a 1 year low of $710.52 and a 1 year high of $1,128.68. The firm has a market capitalization of $106.49 billion, a P/E ratio of 74.73, a P/E/G ratio of 2.03 and a beta of 1.01. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.30 by $6.49. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.52 billion. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, research analysts predict that Equinix, Inc. will post 37.72 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, June 17th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. Equinix’s payout ratio is 142.84%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of analyst reports. Truist Financial set a $1,215.00 price objective on Equinix in a research note on Friday, May 1st. Cantor Fitzgerald upped their price objective on Equinix from $1,173.00 to $1,186.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Evercore restated an “outperform” rating and set a $1,240.00 price objective on shares of Equinix in a research note on Tuesday, April 28th. Raymond James Financial upgraded Equinix from a “market perform” rating to a “strong-buy” rating and set a $1,250.00 price objective for the company in a research note on Thursday, April 30th. Finally, Sanford C. Bernstein initiated coverage on Equinix in a research note on Thursday, March 5th. They set an “outperform” rating and a $1,128.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,143.60.

Insider Activity

In other news, CEO Adaire Fox-Martin sold 1,086 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $966.20, for a total value of $1,049,293.20. Following the transaction, the chief executive officer directly owned 19,574 shares of the company’s stock, valued at approximately $18,912,398.80. This represents a 5.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles J. Meyers sold 5,224 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 11,729 shares of company stock valued at $11,980,800. 0.27% of the stock is owned by corporate insiders.

Equinix Company Profile

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.