Brookmont Capital Management Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Brookmont Capital Management purchased a new position in Equinix, Inc. (NASDAQ:EQIX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,506 shares of the financial services provider’s stock, valued at approximately $2,894,000. Equinix makes up 1.5% of Brookmont Capital Management’s holdings, making the stock its 26th largest holding.

A number of other institutional investors have also bought and sold shares of the business. LPL Financial LLC boosted its holdings in shares of Equinix by 17.1% during the 3rd quarter. LPL Financial LLC now owns 24,081 shares of the financial services provider’s stock valued at $17,489,000 after purchasing an additional 3,520 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Equinix by 6.3% during the 3rd quarter. Federated Hermes Inc. now owns 13,148 shares of the financial services provider’s stock valued at $9,549,000 after purchasing an additional 777 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Equinix by 35.5% during the 3rd quarter. Covestor Ltd now owns 84 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 22 shares during the last quarter. Operose Advisors LLC bought a new position in shares of Equinix during the 3rd quarter valued at about $36,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Equinix by 28.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 4,841 shares of the financial services provider’s stock valued at $3,516,000 after purchasing an additional 1,072 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on EQIX. Oppenheimer increased their price objective on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Morgan Stanley lowered their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a report on Thursday, March 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Truist Financial increased their price target on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target for the company. in a report on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $872.50.

Equinix Trading Up 0.6 %

NASDAQ EQIX traded up $4.64 during trading on Friday, hitting $756.60. The stock had a trading volume of 1,146,796 shares, compared to its average volume of 601,063. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $71.81 billion, a price-to-earnings ratio of 75.89, a P/E/G ratio of 2.58 and a beta of 0.68. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The stock has a 50 day simple moving average of $755.85 and a 200 day simple moving average of $800.20.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares of the company’s stock, valued at $10,212,779. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now directly owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

About Equinix

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.