Federated Hermes Inc. Buys 1,599 Shares of Equinix, Inc. (NASDAQ:EQIX)

Federated Hermes Inc. boosted its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,268 shares of the financial services provider's stock after buying an additional 1,599 shares during the period. Federated Hermes Inc.'s holdings in Equinix were worth $12,510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. raised its holdings in Equinix by 61.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock worth $7,946,000 after purchasing an additional 3,212 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Equinix by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock worth $592,191,000 after acquiring an additional 2,560 shares in the last quarter. National Pension Service lifted its position in Equinix by 1.3% during the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock valued at $229,263,000 after acquiring an additional 3,164 shares during the period. Empowered Funds LLC boosted its stake in Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock worth $2,361,000 after acquiring an additional 404 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Equinix by 46.1% in the fourth quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider's stock worth $278,712,000 after purchasing an additional 92,975 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

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Equinix Price Performance

NASDAQ:EQIX traded up $8.75 on Tuesday, reaching $792.62. 89,868 shares of the company's stock traded hands, compared to its average volume of 553,336. The firm has a market cap of $77.15 billion, a PE ratio of 92.87, a P/E/G ratio of 1.78 and a beta of 0.95. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a 50-day simple moving average of $860.01 and a 200-day simple moving average of $900.38. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.37%. Equinix's dividend payout ratio (DPR) is 219.42%.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares of the company's stock, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock valued at $17,466,950 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BMO Capital Markets dropped their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Scotiabank increased their target price on Equinix from $1,033.00 to $1,040.00 and gave the stock a "sector outperform" rating in a research note on Monday, March 3rd. Cfra Research raised Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $1,007.59.

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.