Suntrust Banks Inc. Raises Holdings in Equinix, Inc. (EQIX)
Suntrust Banks Inc. boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,648 shares of the financial services provider’s stock after acquiring an additional 115 shares during the quarter. Suntrust Banks Inc.’s holdings in Equinix were worth $706,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new stake in Equinix during the 1st quarter worth about $3,723,000. Nicholas Company Inc. purchased a new position in shares of Equinix during the 2nd quarter valued at about $3,201,000. Prudential Financial Inc. raised its stake in shares of Equinix by 1.1% during the 2nd quarter. Prudential Financial Inc. now owns 110,757 shares of the financial services provider’s stock valued at $47,532,000 after buying an additional 1,185 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Equinix by 7.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 610,357 shares of the financial services provider’s stock valued at $261,747,000 after buying an additional 43,933 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Equinix by 12.7% during the 2nd quarter. Wells Fargo & Company MN now owns 431,880 shares of the financial services provider’s stock valued at $185,345,000 after buying an additional 48,560 shares during the last quarter. 94.41% of the stock is owned by institutional investors.
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Equinix, Inc. (NASDAQ:EQIX) opened at 448.83 on Friday. Equinix, Inc. has a 12-month low of $314.55 and a 12-month high of $475.28.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.41 by $1.18. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Equinix had a net margin of 5.18% and a return on equity of 5.51%. On average, analysts anticipate that Equinix, Inc. will post $3.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd were paid a $2.00 dividend. The ex-dividend date was Monday, August 21st. This represents a $8.00 annualized dividend and a yield of 1.78%. Equinix’s payout ratio is currently 293.04%.
A number of equities analysts have weighed in on EQIX shares. BidaskClub lowered Equinix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 8th. Canaccord Genuity reiterated a “buy” rating and set a $525.00 price objective on shares of Equinix in a research note on Monday, June 12th. Cowen and Company reiterated a “buy” rating on shares of Equinix in a research note on Friday, July 21st. Royal Bank Of Canada reiterated a “buy” rating and set a $470.00 price objective on shares of Equinix in a research note on Sunday, July 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $497.00 price objective (up previously from $485.00) on shares of Equinix in a research note on Thursday, August 3rd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $470.28.
In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $438.46, for a total value of $657,690.00. Following the completion of the sale, the chief financial officer now directly owns 31,393 shares of the company’s stock, valued at approximately $13,764,574.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $436.12, for a total transaction of $436,120.00. Following the completion of the sale, the chief financial officer now directly owns 32,996 shares of the company’s stock, valued at $14,390,215.52. The disclosure for this sale can be found here. Insiders sold a total of 10,711 shares of company stock valued at $4,813,045 over the last ninety days. 0.58% 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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