Chevy Chase Trust Holdings Inc. Holds Stake in Equinix Inc. (EQIX)
Chevy Chase Trust Holdings Inc. continued to hold its position in shares of Equinix Inc. (NASDAQ:EQIX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,427 shares of the company’s stock at the end of the third quarter. Chevy Chase Trust Holdings Inc. owned 0.08% of Equinix worth $21,408,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in EQIX. Eachwin Capital LP acquired a new stake in Equinix during the first quarter worth approximately $3,106,000. Arizona State Retirement System boosted its stake in Equinix by 13.3% in the first quarter. Arizona State Retirement System now owns 18,722 shares of the company’s stock worth $6,192,000 after buying an additional 2,200 shares during the period. Euclid Advisors LLC boosted its stake in Equinix by 3.7% in the first quarter. Euclid Advisors LLC now owns 10,678 shares of the company’s stock worth $3,531,000 after buying an additional 381 shares during the period. Heitman Real Estate Securities LLC boosted its stake in Equinix by 32.4% in the first quarter. Heitman Real Estate Securities LLC now owns 390,178 shares of the company’s stock worth $129,036,000 after buying an additional 95,498 shares during the period. Finally, Integrated Investment Consultants LLC boosted its stake in Equinix by 5.6% in the second quarter. Integrated Investment Consultants LLC now owns 284 shares of the company’s stock worth $110,000 after buying an additional 15 shares during the period. 99.34% of the stock is owned by institutional investors.
Shares of Equinix Inc. (NASDAQ:EQIX) opened at 333.24 on Friday. Equinix Inc. has a one year low of $255.45 and a one year high of $391.07. The stock has a market cap of $23.79 billion, a P/E ratio of 300.49 and a beta of 0.84. The firm’s 50-day moving average price is $352.66 and its 200 day moving average price is $363.32.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $3.95 EPS for the quarter, beating the Zacks’ consensus estimate of $3.85 by $0.10. Equinix had a return on equity of 3.68% and a net margin of 2.23%. The business earned $924.68 million during the quarter, compared to the consensus estimate of $919.73 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. The business’s revenue for the quarter was up 34.7% on a year-over-year basis. Equities research analysts expect that Equinix Inc. will post $14.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Wednesday, November 16th will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Monday, November 14th. Equinix’s payout ratio is currently 648.15%.
EQIX has been the subject of a number of recent analyst reports. Oppenheimer Holdings Inc. upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research report on Tuesday, September 6th. Jefferies Group restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 13th. Pacific Crest restated a “buy” rating on shares of Equinix in a research report on Wednesday, August 24th. Barclays PLC boosted their price objective on Equinix from $360.00 to $372.00 and gave the company an “equal weight” rating in a research report on Thursday, August 4th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $429.00 price target (up from $382.00) on shares of Equinix in a research report on Wednesday, August 10th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Equinix currently has a consensus rating of “Buy” and a consensus price target of $401.97.
In related news, COO Charles J. Meyers sold 200 shares of Equinix stock in a transaction on Monday, November 7th. The stock was sold at an average price of $350.00, for a total value of $70,000.00. Following the transaction, the chief operating officer now owns 1,245 shares in the company, valued at $435,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karl Strohmeyer sold 2,143 shares of Equinix stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $369.76, for a total value of $792,395.68. Following the completion of the transaction, the insider now owns 2,550 shares in the company, valued at approximately $942,888. The disclosure for this sale can be found here. 0.69% of the stock is owned by corporate insiders.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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