Legacy Capital Wealth Partners LLC Buys New Stake in Equinix, Inc. (NASDAQ:EQIX)

Legacy Capital Wealth Partners LLC purchased a new position in Equinix, Inc. (NASDAQ:EQIX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 315 shares of the financial services provider’s stock, valued at approximately $239,000.

A number of other large investors have also made changes to their positions in the business. CNB Bank grew its stake in Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares during the last quarter. LRI Investments LLC acquired a new stake in Equinix in the first quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix during the second quarter worth about $30,000. Rise Advisors LLC acquired a new position in shares of Equinix during the first quarter valued at about $39,000. Finally, UMB Bank n.a. raised its position in shares of Equinix by 30.0% in the 1st quarter. UMB Bank n.a. now owns 65 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 15 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Mizuho started coverage on shares of Equinix in a research note on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target on the stock. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group started coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price target for the company. Truist Financial increased their price objective on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $876.71.

Equinix Trading Down 0.5 %

Equinix stock opened at $827.59 on Thursday. The firm has a market cap of $78.54 billion, a PE ratio of 83.01, a P/E/G ratio of 2.03 and a beta of 0.68. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The stock’s 50 day simple moving average is $798.12 and its two-hundred day simple moving average is $794.56. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.04 earnings per share. Analysts anticipate that Equinix, Inc. will post 31.04 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be paid a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.06%. Equinix’s dividend payout ratio is presently 170.91%.

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.