PNC Financial Services Group Inc. Purchases 531 Shares of Equinix, Inc. (NASDAQ:EQIX)

PNC Financial Services Group Inc. increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,168 shares of the financial services provider’s stock after buying an additional 531 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Equinix were worth $11,688,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in EQIX. EntryPoint Capital LLC lifted its holdings in shares of Equinix by 234.8% in the 1st quarter. EntryPoint Capital LLC now owns 77 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 54 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Equinix by 37.7% in the first quarter. Advisors Asset Management Inc. now owns 3,100 shares of the financial services provider’s stock valued at $2,559,000 after buying an additional 849 shares in the last quarter. Steel Grove Capital Advisors LLC increased its position in shares of Equinix by 47.9% during the first quarter. Steel Grove Capital Advisors LLC now owns 414 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 134 shares in the last quarter. BOKF NA raised its holdings in shares of Equinix by 6.7% in the 1st quarter. BOKF NA now owns 5,528 shares of the financial services provider’s stock worth $4,423,000 after acquiring an additional 347 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Equinix by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after acquiring an additional 47,795 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Trading Up 1.4 %

Shares of Equinix stock opened at $936.37 on Friday. The stock has a market capitalization of $90.35 billion, a P/E ratio of 84.43, a P/E/G ratio of 2.32 and a beta of 0.71. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s 50-day simple moving average is $891.74 and its 200 day simple moving average is $824.67.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Insider Buying and Selling

In other news, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the transaction, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. This trade represents a 99.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,754 shares of company stock valued at $11,666,756. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Scotiabank boosted their price objective on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company upped their price target on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays raised their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. BMO Capital Markets increased their target price on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $952.88.

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.