Federated Hermes Inc. Trims Stake in Equinix, Inc. (NASDAQ:EQIX)

Posted by Defense World Staff on Mar 10th, 2023

Federated Hermes Inc. cut its holdings in Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,473 shares of the financial services provider’s stock after selling 498 shares during the period. Federated Hermes Inc.’s holdings in Equinix were worth $3,113,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EQIX. Sequoia Financial Advisors LLC raised its holdings in Equinix by 15.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 687 shares of the financial services provider’s stock valued at $509,000 after acquiring an additional 92 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Equinix by 5.3% in the 1st quarter. Baird Financial Group Inc. now owns 1,169 shares of the financial services provider’s stock valued at $867,000 after acquiring an additional 59 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in Equinix by 182.8% in the 1st quarter. Brown Brothers Harriman & Co. now owns 263 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 170 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Equinix by 10.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider’s stock worth $127,000 after buying an additional 16 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Equinix by 300.0% during the 1st quarter. Covestor Ltd now owns 172 shares of the financial services provider’s stock worth $128,000 after buying an additional 129 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

NASDAQ EQIX opened at $682.88 on Friday. Equinix, Inc. has a 12 month low of $494.89 and a 12 month high of $776.35. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.80 and a quick ratio of 1.80. The firm has a market capitalization of $63.36 billion, a PE ratio of 88.92, a P/E/G ratio of 2.27 and a beta of 0.61. The company’s 50 day simple moving average is $707.84 and its 200 day simple moving average is $652.24.

Equinix (NASDAQ:EQIX – Get Rating) last posted its quarterly earnings data on Wednesday, February 15th. The financial services provider reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $5.90 by ($4.51). The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.86 billion. Equinix had a net margin of 9.70% and a return on equity of 6.37%. Equinix’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.22 EPS. As a group, equities research analysts forecast that Equinix, Inc. will post 27.58 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Tuesday, March 7th will be issued a dividend of $3.41 per share. This represents a $13.64 dividend on an annualized basis and a yield of 2.00%. This is a boost from Equinix’s previous quarterly dividend of $3.10. The ex-dividend date of this dividend is Monday, March 6th. Equinix’s dividend payout ratio (DPR) is presently 177.60%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Cowen upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $811.00 price objective for the company in a report on Tuesday, December 13th. BNP Paribas initiated coverage on shares of Equinix in a research report on Wednesday, December 14th. They set an “outperform” rating and a $886.00 price target for the company. Wells Fargo & Company upped their price target on shares of Equinix from $675.00 to $785.00 in a research report on Wednesday, December 14th. Citigroup upped their price objective on shares of Equinix from $750.00 to $825.00 and gave the company a “buy” rating in a research report on Friday, February 17th. Finally, Exane BNP Paribas began coverage on shares of Equinix in a research report on Wednesday, December 14th. They issued an “outperform” rating for the company. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $779.28.

Insider Buying and Selling

In related news, Chairman Camp Peter Van sold 462 shares of the firm’s stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $708.61, for a total value of $327,377.82. Following the completion of the transaction, the chairman now owns 7,416 shares of the company’s stock, valued at approximately $5,255,051.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Camp Peter Van sold 462 shares of Equinix stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $708.61, for a total value of $327,377.82. Following the transaction, the chairman now owns 7,416 shares in the company, valued at approximately $5,255,051.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karl Strohmeyer sold 2,353 shares of the firm’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $707.41, for a total transaction of $1,664,535.73. Following the completion of the sale, the insider now owns 20,431 shares in the company, valued at $14,453,093.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,505 shares of company stock worth $10,213,926. Corporate insiders own 0.32% of the company’s stock.

About Equinix

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Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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