Truist Financial Corp Has $45.56 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Truist Financial Corp raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,320 shares of the financial services provider’s stock after purchasing an additional 2,990 shares during the quarter. Truist Financial Corp owned 0.05% of Equinix worth $45,560,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of EQIX. Creative Planning boosted its holdings in shares of Equinix by 16.7% in the 3rd quarter. Creative Planning now owns 7,754 shares of the financial services provider’s stock valued at $6,883,000 after purchasing an additional 1,111 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Equinix by 12.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,559 shares of the financial services provider’s stock valued at $41,327,000 after purchasing an additional 5,189 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Equinix by 8.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 756 shares of the financial services provider’s stock valued at $671,000 after purchasing an additional 60 shares in the last quarter. Kessler Investment Group LLC boosted its holdings in shares of Equinix by 15.7% in the 3rd quarter. Kessler Investment Group LLC now owns 6,862 shares of the financial services provider’s stock valued at $6,091,000 after purchasing an additional 931 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Equinix by 21.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,025 shares of the financial services provider’s stock valued at $1,798,000 after acquiring an additional 354 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other news, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the transaction, the executive vice president now owns 6,579 shares in the company, valued at $5,945,508.09. The trade was a 16.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 3,184 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the transaction, the chief financial officer now owns 22,076 shares in the company, valued at $20,085,186.32. The trade was a 12.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,701 shares of company stock worth $15,441,464. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the topic of several recent research reports. Evercore ISI raised their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Citizens Jmp raised Equinix to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank cut their price objective on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 13th. BMO Capital Markets cut their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Stifel Nicolaus raised their price objective on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Equinix currently has an average rating of “Buy” and a consensus target price of $994.82.

Equinix Price Performance

EQIX stock opened at $931.04 on Wednesday. The company has a market capitalization of $90.62 billion, a P/E ratio of 83.95, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The business has a 50-day simple moving average of $934.17 and a two-hundred day simple moving average of $898.55.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. Research analysts expect that Equinix, Inc. will post 31.09 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.01%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is 219.42%.

Equinix Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.