Principal Financial Group Inc. Has $1.94 Billion Stock Position in Equinix, Inc. $EQIX

Principal Financial Group Inc. raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,980,497 shares of the financial services provider’s stock after purchasing an additional 27,643 shares during the period. Equinix accounts for approximately 1.0% of Principal Financial Group Inc.’s investment portfolio, making the stock its 12th biggest position. Principal Financial Group Inc. owned approximately 2.01% of Equinix worth $1,941,377,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Equinix during the fourth quarter worth approximately $984,355,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Equinix by 408.1% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock valued at $929,312,000 after buying an additional 953,001 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Equinix by 377,167.4% during the fourth quarter. SG Americas Securities LLC now owns 716,808 shares of the financial services provider’s stock worth $549,190,000 after buying an additional 716,618 shares in the last quarter. Cohen & Steers Inc. boosted its position in shares of Equinix by 23.3% in the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock valued at $1,998,978,000 after acquiring an additional 493,141 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Equinix by 30.0% in the 4th quarter. Deutsche Bank AG now owns 1,094,808 shares of the financial services provider’s stock valued at $838,798,000 after purchasing an additional 252,964 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In related news, Chairman Charles J. Meyers sold 5,224 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the completion of the transaction, the chairman directly owned 7,370 shares of the company’s stock, valued at $7,998,145.10. This trade represents a 41.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the completion of the sale, the executive vice president directly owned 5,728 shares of the company’s stock, valued at approximately $6,206,116.16. The trade was a 26.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 11,115 shares of company stock worth $12,022,574. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of EQIX opened at $1,039.53 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. The stock has a market cap of $102.52 billion, a PE ratio of 71.94, a PEG ratio of 1.95 and a beta of 0.98. Equinix, Inc. has a 12-month low of $720.62 and a 12-month high of $1,128.68. The business has a 50-day simple moving average of $1,065.29 and a two-hundred day simple moving average of $971.05.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating analysts’ consensus estimates of $4.30 by $6.49. The firm 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 business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Analysts anticipate that Equinix, Inc. will post 38.26 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were paid a $5.16 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. Equinix’s payout ratio is currently 142.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial upgraded shares of Equinix from a “market perform” rating to a “strong-buy” rating and set a $1,250.00 price target for the company in a research report on Thursday, April 30th. Zacks Research lowered Equinix from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Scotiabank lifted their price objective on Equinix from $1,050.00 to $1,120.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Truist Financial set a $1,215.00 target price on Equinix in a research report on Friday, May 1st. Finally, Citigroup upped their price objective on shares of Equinix from $1,240.00 to $1,260.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $1,155.64.

About Equinix

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.