Retirement Systems of Alabama Increases Stock Holdings in Equinix, Inc. $EQIX

Retirement Systems of Alabama increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,096 shares of the financial services provider’s stock after buying an additional 6,985 shares during the quarter. Retirement Systems of Alabama owned 0.15% of Equinix worth $113,645,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Quilter Plc raised its holdings in shares of Equinix by 15.4% in the third quarter. Quilter Plc now owns 109,747 shares of the financial services provider’s stock valued at $85,958,000 after purchasing an additional 14,664 shares during the last quarter. Stoneridge Investment Partners LLC grew its position in Equinix by 186.4% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 1,787 shares of the financial services provider’s stock worth $1,400,000 after purchasing an additional 1,163 shares in the last quarter. PFG Investments LLC increased its stake in Equinix by 14.4% in the 3rd quarter. PFG Investments LLC now owns 1,274 shares of the financial services provider’s stock valued at $998,000 after buying an additional 160 shares during the last quarter. Resona Asset Management Co. Ltd. increased its stake in Equinix by 6.2% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 59,497 shares of the financial services provider’s stock valued at $46,532,000 after buying an additional 3,475 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Equinix by 60.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 146,228 shares of the financial services provider’s stock worth $114,532,000 after buying an additional 54,929 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EQIX shares. Scotiabank reduced their target price on Equinix from $965.00 to $959.00 and set a “sector outperform” rating for the company in a report on Wednesday, January 14th. Barclays restated a “positive” rating and issued a $870.00 price objective on shares of Equinix in a research note on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Equinix in a research note on Thursday. Daiwa Capital Markets set a $917.00 price target on shares of Equinix and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Citigroup reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, December 11th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $959.64.

Insider Buying and Selling

In related news, Chairman Charles J. Meyers sold 5,087 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $778.47, for a total transaction of $3,960,076.89. Following the sale, the chairman owned 10,426 shares of the company’s stock, valued at approximately $8,116,328.22. This represents a 32.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,894 shares of Equinix stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $731.09, for a total value of $2,115,774.46. Following the transaction, the chief executive officer directly owned 12,366 shares of the company’s stock, valued at $9,040,658.94. The trade was a 18.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,590 shares of company stock valued at $15,366,046 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $791.27 on Friday. The firm has a market capitalization of $77.69 billion, a PE ratio of 72.46, a P/E/G ratio of 1.24 and a beta of 1.05. 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 company has a 50-day moving average price of $764.83 and a two-hundred day moving average price of $782.91. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $953.41.

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

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Equinix’s dividend payout ratio (DPR) is presently 171.79%.

Equinix Profile

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.