CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Increases Holdings in Equinix, Inc. $EQIX

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 75.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,000 shares of the financial services provider’s stock after acquiring an additional 3,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Equinix were worth $5,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Equinix by 1.7% in the second quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock valued at $10,443,758,000 after acquiring an additional 222,221 shares during the period. Valeo Financial Advisors LLC increased its position in shares of Equinix by 298,148.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock valued at $6,488,728,000 after purchasing an additional 8,154,365 shares during the last quarter. State Street Corp increased its position in shares of Equinix by 3.7% during the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after purchasing an additional 220,981 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Equinix by 8.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,243,446 shares of the financial services provider’s stock worth $1,013,844,000 after purchasing an additional 95,887 shares during the period. Finally, Norges Bank purchased a new position in shares of Equinix in the second quarter worth approximately $892,431,000. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on EQIX shares. Citigroup reiterated a “buy” rating on shares of Equinix in a research report on Thursday, December 11th. Wall Street Zen upgraded Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. BMO Capital Markets upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 target price on the stock in a research report on Wednesday, December 3rd. Cowen restated a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. Finally, Truist Financial raised their price objective on Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $953.90.

Equinix Trading Up 0.6%

Shares of Equinix stock opened at $769.71 on Wednesday. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $964.73. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market capitalization of $75.58 billion, a P/E ratio of 70.49, a P/E/G ratio of 1.56 and a beta of 1.05. The company has a fifty day moving average of $777.45 and a 200 day moving average of $787.86.

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

Equinix Announces Dividend

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

Insiders Place Their Bets

In other Equinix news, insider Jonathan Lin sold 124 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $731.18, for a total transaction of $90,666.32. Following the completion of the sale, the insider directly owned 8,299 shares of the company’s stock, valued at $6,068,062.82. This trade represents a 1.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 5,087 shares of Equinix stock in a transaction that occurred on Monday, November 17th. The shares were 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 in the company, valued at approximately $8,116,328.22. The trade was a 32.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,704 shares of company stock worth $6,617,748 over the last ninety days. 0.27% of the stock is owned by company insiders.

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.