Sterling Investment Counsel LLC Takes $652,000 Position in Equinix, Inc. $EQIX

Sterling Investment Counsel LLC bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 832 shares of the financial services provider’s stock, valued at approximately $652,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quent Capital LLC raised its stake in shares of Equinix by 4.8% during the second quarter. Quent Capital LLC now owns 286 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 13 shares during the period. Whittier Trust Co. grew its holdings in Equinix by 1.3% during the 2nd quarter. Whittier Trust Co. now owns 1,040 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 13 shares in the last quarter. CVA Family Office LLC increased its stake in Equinix by 10.9% during the 2nd quarter. CVA Family Office LLC now owns 132 shares of the financial services provider’s stock worth $105,000 after buying an additional 13 shares during the period. Flputnam Investment Management Co. lifted its holdings in Equinix by 1.0% in the 3rd quarter. Flputnam Investment Management Co. now owns 1,295 shares of the financial services provider’s stock worth $1,014,000 after buying an additional 13 shares in the last quarter. Finally, Bank of Jackson Hole Trust boosted its position in Equinix by 70.0% in the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 50 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $777.58, for a total transaction of $38,879.00. Following the sale, the director owned 17,782 shares in the company, valued at $13,826,927.56. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurt Pletcher sold 290 shares of Equinix stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total value of $212,045.10. Following the completion of the transaction, the insider owned 2,433 shares of the company’s stock, valued at approximately $1,778,985.27. The trade was a 10.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,704 shares of company stock valued at $6,617,748 in the last ninety days. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wall Street Zen upgraded Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Truist Financial raised their price objective on Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Morgan Stanley initiated coverage on Equinix in a report on Thursday, October 16th. They set an “overweight” rating and a $950.00 price objective on the stock. Zacks Research cut Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, BMO Capital Markets raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price target for the company in a research report on Wednesday, December 3rd. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $953.90.

Equinix Trading Down 0.5%

Shares of NASDAQ EQIX opened at $766.16 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.32. The stock’s 50 day moving average price is $774.88 and its two-hundred day moving average price is $787.55. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $964.73. The stock has a market capitalization of $75.23 billion, a P/E ratio of 70.16, a PEG ratio of 1.56 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, topping the consensus estimate of $9.27 by $0.56. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. On average, analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were paid a dividend of $4.69 per share. The ex-dividend date was Wednesday, November 19th. This represents a $18.76 annualized dividend and a yield of 2.4%. Equinix’s payout ratio is presently 171.79%.

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.